Allstate Announces $0.20 per Share Quarterly Dividend

The Allstate Corporation (NYSE: ALL) today announced a quarterly dividend of twenty cents ($0.20) on each outstanding share of the Corporation�s common stock, payable in cash on April 1, 2009 to stockholders of record at the close of business on March 13, 2009.

�Allstate has a history of proactively and prudently managing our capital, while consistently returning substantial amounts of capital to our shareholders. As part of that process we calibrate our dividends to company earnings and also ensure that Allstate�s payout ratio is competitive with the marketplace,� said Thomas J. Wilson, chairman, president and chief executive officer. �In light of recent earnings, Allstate has decided to reduce our dividend for this quarter to a level we believe puts Allstate�s payout ratio in line with our peers.�

Wilson continued, �Recalibrating our dividend supports all three of our 2009 corporate priorities: maintaining financial strength; investing to build customer loyalty and funding initiatives to reinvent protection and retirement for the consumer. These priorities help us focus relentlessly on those actions that will help us manage through these turbulent times and build long term success. That, in turn,�will provide the most value to our shareholders and customers."

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�� slogan, Allstate is reinventing protection and retirement to help individuals in approximately 17 million households protect what they have today and better prepare for tomorrow. Customers can access Allstate products and services such as auto insurance and homeowners insurance through approximately 14,700 exclusive Allstate agencies and financial representatives in the U.S. and Canada, or in select states at allstate.com and 1-800 Allstate�. Encompass� and Deerbrook� 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. Customers can also access information about Allstate Financial Group products and services at myallstatefinancial.com.

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