Allstate invests in the future of Miami.

NORTHBROOK, Ill.--(BUSINESS WIRE)--Aug. 20, 1996--Allstate Insurance Co. invested $1 billion in municipal bonds in Florida in 1995 and paid more than $18 million in premium and other taxes, according to a company report released Tuesday.

In Miami, the company invested more than $5 million in general purpose bonds and for the stadium.

The data appeared in Allstate's new community involvement report, ``Beyond the Promise,'' which describes the company's community relations activities and lists the economic impact the company has in each state where it does business.

The report noted that independent consumer marketing research indicates that Allstate is one of the largest auto and property insurers of African-Americans and Hispanic-Americans.

Allstate manages a $55-billion investment portfolio, one of the largest in the insurance industry, and owns more municipal bonds than any other insurer. The company attempts to leverage these funds by engaging in investment policies and practices that foster economic development in communities.

Across the country, Allstate has established partnerships that focus on the issues and concerns of urban residents. The company has invested $1 billion in single and multi-family municipal bond investments, and nearly $1 billion in industry-facility municipals.

Allstate, which has 874 agent offices in the state, insured more than 1.5 million autos and 484,000 dwellings. The company also paid out more than $1 billion in personal property and casualty claims last year in the state.

``What makes Allstate unique is that we attempt to reach out, through our agents, employee volunteers, financial resources and progressive policies and practices, to make life better for all Americans,'' said Jerry D. Choate, Allstate chairman and chief executive officer. ``It's our responsibility and in our best interest to go beyond the promise by building partnerships to help improve the whole community.''

One example of Allstate's commitment to the community is its leadership role in improving safety on the nation's highways. In 1960, Allstate began testing air bags and after 20 years of persistence, federal laws were enacted requiring that all 1998 model year cars offer air bags.

Personal safety and security is another priority for Allstate and its customers. By supporting initiatives such as the American Academy of Pediatrics' All Kid2 Safe program, Allstate works to reduce violence and crime in the community.

In addition to Allstate's programs, employees go beyond the promise. More than 50 percent of employees participate in over 10,000 community projects nationwide. Last year the Helping Hands committee received the Award for Excellence in Corporate Community Service from The Points of Light Foundation.

``This is more than sound economic practice. It is our investment in the future of our state and its residents,'' said E. Dwight Hammack, regional vice president. ``Allstate is committed to a long-lasting partnership for progress in Florida,'' he added.

Allstate Insurance Co. is the nation's second-largest personal lines insurance company, insuring one of every eight homes and automobiles in the country. The company provides insurance to more than 20 million customers and has approximately 15,000 full-time agents in the U.S. and Canada. Allstate is also a major life insurer. -0-

NOTE TO EDITORS: If you need additional information or specific data on Allstate investments in your state or county, please call Elio Montenegro, Allstate Media Relations, at 847/402-0156.

CONTACT: Allstate Media Relations, 847/402-5600

or

Leslie Chapman-Henderson, 904/574-2412