Alfa Corporation and the Alfa Insurance Group Announce Resignation of Chief Financial Officer.

Business Editors

MONTGOMERY, Ala.--(BUSINESS WIRE)--June 30, 2000

Alfa Corporation (Nasdaq/NM:ALFA) and the Alfa Insurance Group today announced that J. Donald Price, Senior Vice President, Finance and Chief Financial Officer, has resigned effective July 1, 2000, to pursue other interests. He has agreed to continue to serve the Company in a consulting role for the next two years.

Alfa's Executive Vice President of Operations, Lee Ellis, has appointed Stephen G. Rutledge, currently Senior Vice President of Investments, to be interim Chief Financial Officer while the Company begins a search for a new CFO that will consider both internal and external candidates.

Jerry Newby, Alfa's Chairman, President and Chief Executive Officer, said, "On behalf of the management and employees of Alfa, I want to thank Don for his many contributions during his 16 years with the Company. We wish him well in his future endeavors. We are fortunate to have a strong financial staff that will allow us time to evaluate and select the best candidate to fill this position."

Alfa Corporation and the Alfa Insurance Group are engaged in insurance and financial activities in Alabama, Georgia and Mississippi. The common stock of Alfa Corporation is traded on Nasdaq Stock Market's National Market under the symbol ALFA.