Allstate Adopts Policy Regarding Election of Directors.

NORTHBROOK, Ill. -- The Allstate Corporation announced today a new corporate governance policy that will strengthen the company's already highly regarded corporate governance practices. The new policy will require any nominee for director who receives more votes withheld from election than are cast for election to submit his or her resignation to the board. The board's nominating and governance committee will then consider the tendered resignation and recommend to the board whether to accept or reject it.

In considering the tendered resignation, the nominating and governance committee will evaluate factors such as the director's length of service, particular qualifications and contributions to the company, the reasons underlying the withhold vote if known, and whether the underlying reasons are considered curable.

"The board believes this policy enhances its accountability to shareholders by formalizing the consequences of a "Majority Withheld Vote" and demonstrating its responsiveness to director election results while at the same time protecting the long-term interests of the company and its shareholders," said Edward M. Liddy, chairman and chief executive officer, The Allstate Corporation. "The adoption of this policy is in keeping with Allstate's desires to be a leader in corporate governance practices and procedures and an advocate of public company transparency."

Now celebrating the 75th anniversary of the founding of Allstate Insurance Company, The Allstate Corporation (NYSE:ALL) is the nation's largest publicly held personal lines insurer. Widely known through the "You're In Good Hands With Allstate(R)" slogan, Allstate helps individuals in approximately 17 million households protect what they have today and better prepare for tomorrow through approximately 14,100 exclusive agencies and financial professionals in the U.S. and Canada. Customers can access Allstate products and services such as auto insurance and homeowners insurance through Allstate agencies, or in select states at allstate.com and 1-800 Allstate(R). Encompass(SM) and Deerbrook(R) Insurance brand property and casualty products are sold exclusively through independent agents. The Allstate Financial Group provides life insurance, supplemental accident and health insurance, annuity, banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies, independent agencies, financial institutions and broker-dealers.