<PAGE>
Exhibit No. 99
THE ALLSTATE CORPORATION
NEWS - FOR IMMEDIATE RELEASE
CONTACT: ALLSTATE MEDIA RELATIONS
(847) 402-5600
ALLSTATE ANNOUNCES SECOND QUARTER-TO-DATE CATASTROPHE LOSSES
Northbrook, IL - June 15, 2000 - The Allstate Corporation announced today that a
series of severe spring storms caused an estimated $340 million in pre-tax
catastrophe losses in the first two months of the second quarter. With one month
remaining in the quarter, catastrophe losses could exceed the $382 million
experienced in the first quarter of 2000.
The estimated losses in April and May would add 6.2 points to the second quarter
combined ratio and impact after tax earnings per share by approximately $.30. By
comparison, second quarter 1999 catastrophe losses amounted to $276 million
pre-tax, adding 5.6 points to the combined ratio and impacting earnings per
share by $.22.
"This has been an active storm season in terms of frequency, with no individual
storm causing significant damage, says Allstate CEO and Chairman Edward M.
Liddy. "We are in the business of taking care of our customers when disaster
strikes and severe weather response is one of the best examples of that
commitment."
Through the first five months of 2000, estimated catastrophe losses are $720
million. This is more than the catastrophe losses experienced in all of 1997
($365 million) and is close to surpassing the annual catastrophe losses for 1998
($780 million) and 1999 ($820 million).
"While this has been an unusual year in terms of the number of storms in the
first five months, the weather has not put a damper on the execution of our
business strategy, which includes expanding distribution channels and product
offerings to our customers," says Liddy.
This press release contains forward-looking statements about Allstate's
catastrophe losses and their potential impact on its financial results. Such
statements are subject to the Private Securities Litigation Reform Act of 1995
and are based on management's estimates, assumptions and projections. Allstate's
actual results may differ materially from those projected in the forward-looking
statements. Allstate is still receiving and evaluating claims related to the
catastrophes that occurred in April and May.
The Allstate Corporation is the nation's largest publicly held personal lines
insurance company. Its main business units include Allstate Personal Property
and Casualty, which provides insurance for more than 14 million households and
has approximately 15,000 agents in the U.S. and Canada, and the Allstate Life
Group of Companies, which markets a number of life insurance and savings
products under a variety of brands through a number of channels and is currently
the nation's 17th largest life insurance business. The corporation also provides
personal lines insurance through its Independent Agency Markets comprised of CNA
Personal Insurance and Deerbrook Insurance Company.
###
Page 5 of 5
