CNA Moves to Simplify Way Agents and Brokers Access Its Worldwide Products and Services; Continues Focused Strategy to Become Leading Underwriter of Business Insurance.

Business Editors

CHICAGO--(BUSINESS WIRE)--Jan. 30, 2001

CNA Financial Corporation (NYSE: CNA), the nation's second largest commercial insurer, today announced the promotions of three senior CNA executives -- Gary J. Owcar, Peter W. Wilson, and Robert V. James. The announcement was made by Bernard L. Hengesbaugh, Chairman and Chief Executive Officer of CNA. CNA is taking initial steps to globalize its existing branch structure, underwriting, and information technology functions. These actions will make it simpler and more efficient for independent agents and brokers to access and market CNA products and services for businesses around the world.

To achieve this objective, Mr. Hengesbaugh today appointed:

-- Gary J. Owcar to lead CNA's worldwide field operations, which unifies CNA's
domestic and international branches. Mr. Owcar joined CNA in 1999 after
spending more than 19 years at The Chubb Group of Insurance Companies, which
included a variety of field management positions in the United States, South
America, and the Far East.

-- Peter W. Wilson to lead CNA's newly formed global specialty underwriting and
claims operations, which will include professional liability, marine, warranty
and CNA UniSource. Mr. Wilson joined CNA in 1992 after spending 10 years with
American International Group (AIG) managing its commercial directors and
officers portfolio.

-- Robert V. James to lead CNA's eBusiness Operations, information technology
and processing systems. Mr. James joined CNA in 1998 having served as
President, Middle Markets, AIG, overseeing underwriting, information
technology, marketing, sales and sales management.

"These management appointments are consistent with our stated strategy to build upon our position as a leading commercial insurer in the United States and become one of the industry's premier underwriters of business insurance in the markets we serve here and abroad," said Mr. Hengesbaugh. "Gary, Pete and Bob are all experienced professionals with proven track records who are committed to working together on these critical functions to present a unified brand to independent agents and brokers around the world. These are important next steps in our drive to build profitable growth for our shareholders, while significantly improving the level and quality of service to our partners and customers."

CNA is a leading insurance organization serving individuals and businesses with a broad range of insurance products and insurance-related services. Since 1897, CNA has been built on a foundation of financial strength, stability and commitment to customers and business partners. Visit CNA at www.cna.com. CNA is a registered service mark, trade name, and domain name of CNA Financial Corporation.

FORWARD LOOKING STATEMENT

The statements contained in this press release, which are not historical facts, are forward-looking statements. When included in this press release, the words "believe," "expects," "intends," "anticipates," "estimates," and analogous expressions are intended to identify forward-looking statements. Such statements inherently are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, among others, the impact of competitive products, policies and pricing; product and policy demand and market responses; development of claims and the effect on loss reserves; the performance of reinsurance companies under reinsurance contracts with CNA Financial Corporation and its subsidiaries (the Company); general economic and business conditions; changes in financial markets (interest rate, credit, currency, commodities and stocks); changes in foreign, political, social and economic conditions; regulatory initiatives and compliance with governmental regulations; judicial decisions and rulings; changes in rating agency policies and practices; the results of financing efforts; changes in the Company's composition of operating segments; the actual closing of contemplated transactions and agreements and various other matters and risks (many of which are beyond the Company's control) detailed in the Company's Securities and Exchange Commission filings. These forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.