Allstate Bank Products and Services Now Available Through Local Allstate Agencies.

Business Editors

ANCHORAGE, Alaska--(BUSINESS WIRE)--April 1, 2002

Consumers in Alaska will now be able to get information about opening Allstate Bank accounts from participating Allstate agencies.

The Bank's products and services are targeted at helping middle-income Americans save for retirement.

"The banking products and services we are introducing expand Allstate Financial's portfolio of retirement investment products, which already includes annuities and mutual funds," said Kevin Slawin, CEO, Allstate Bank. "Allstate Bank wants to help customers save for a secure retirement by providing market-leading rates, easy and convenient access to banking products and services and the comfort and security of dealing with one of the best-known names in financial services."

Allstate Bank's products and services include FDIC-insured CDs, insured money market and savings accounts, and checking accounts, as well as home mortgage services and more. Consumers will be able to access the new banking products and services through Allstate agencies in Washington, via the Internet at allstatebank.com, through a Bank customer care representative at 877/794-BANK (2265), ATMs countrywide, or the U.S. mail.

"Allstate Bank is part of our continued commitment to provide consumers the very best service and to make it easy to do business with Allstate Financial," said Michelle Lee, Allstate's field vice president for the Northwest Region. "People know Allstate as a group of companies that provide safety and security to more than 14 million households, insuring one out of every eight autos and homes. Offering banking products in addition to the protection, retirement and investment products we already provide is a natural extension of our business."

Allstate Bank was chartered in 1998 to provide electronic commerce services to Allstate policyholders. In July 2001, Allstate received approval from the Office of Thrift Supervision to provide expanded retail products and services. Access to Allstate Bank products and services online and through call centers became effective October 1, 2001. We expect that by year-end 2002 consumers will be able to open accounts through participating Allstate agencies countrywide.

Allstate Financial Group is a business unit of The Allstate Corporation (NYSE:ALL), representing the affiliates that provide life insurance, retirement, investment and health and disability insurance products. Widely known through the "You're in Good Hands With Allstate(R)" slogan, Allstate Financial helps its customers achieve a secure financial future with a broad array of retirement solutions. Allstate Financial is also a premier provider of variable annuities and long-term-care insurance. In addition, through workplace marketing, Allstate Financial offers life, health and disability insurance through employee payroll deductions. Customers can access Allstate Financial products and services through approximately 60,000 financial professionals, including Allstate agents, independent agents, banks and securities firms.