Alfa Corporation Announces Regular Quarterly Cash Dividend.

MONTGOMERY, Ala. -- Alfa Corporation (NASDAQ: ALFA) today announced that its Board of Directors declared a regular quarterly cash dividend of $0.11 per share, payable December 1, 2006, to stockholders of record at the close of business on November 15, 2006.

Alfa Corporation is engaged in insurance and financial activities through its subsidiaries. The common stock of Alfa Corporation is traded on the NASDAQ Global Select Market under the symbol ALFA.

Investors are cautioned that statements in this press release which relate to the future are, by their nature, uncertain and dependent upon numerous contingencies - including political, economic, regulatory, climatic, competitive, legal, and technological - any of which could cause actual results and events to differ materially from those indicated in such forward-looking statements. Additional information regarding these and other risk factors and uncertainties may be found in Alfa Corporation's filings with the Securities and Exchange Commission.