Adam Hodes Joins CNA as Executive Vice President of Corporate Strategic Planning.

Business Editors

CHICAGO--(BUSINESS WIRE)--Oct. 19, 2001

Adam M. Hodes has joined CNA Insurance (NYSE: CNA) as Executive Vice President of Corporate Strategic Planning, it was announced today by Bernard L. Hengesbaugh, Chairman and Chief Executive Officer. In this newly created position, Mr. Hodes will coordinate and refine enterprise strategy, risk assessment and capital deployment.

Mr. Hodes comes to CNA from New York where, most recently, he served as Director of Investment Banking - Financial Institutions Group at Credit Suisse First Boston Corporation (CSFB) and Donaldson, Lufkin & Jenrette (DLJ) Securities Corporation. As a senior officer at CSFB and DLJ, his responsibilities included execution of capital raising and strategic transactions, as well as new business development in the insurance and asset management sectors. Mr. Hodes has worked as an investment banker advising financial institutions since 1989.

CNA is one of the largest insurance organizations in the United States serving businesses and individuals with a broad range of insurance products and insurance-related services. Since 1897, CNA has built on a foundation of financial strength, stability and commitment to customers and business partners. Visit CNA at www.cna.com. CNA is a registered service mark, trade name, and domain name of CNA Financial Corporation.

FORWARD LOOKING STATEMENT

The statements contained in this press release, which are not historical facts, are forward-looking statements. When included in this press release, the words "believe," "expects," "intends," "anticipates," "estimates," and analogous expressions are intended to identify forward-looking statements. Such statements inherently are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, among others, the impact of competitive products, policies and pricing; product and policy demand and market responses; development of claims and the effect on loss reserves; the performance of reinsurance companies under reinsurance contracts with CNA Financial Corporation and its subsidiaries (the Company); general economic and business conditions; changes in financial markets (interest rate, credit, currency, commodities and stocks); changes in foreign, political, social and economic conditions; regulatory initiatives and compliance with governmental regulations; judicial decisions and rulings; changes in rating agency policies and practices; the results of financing efforts; changes in the Company's composition of operating segments; the actual closing of contemplated transactions and agreements and various other matters and risks (many of which are beyond the Company's control) detailed in the Company's Securities and Exchange Commission filings. These forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.