NORTHBROOK, Ill., Nov. 5 /PRNewswire/ -- The Allstate Corporation
(NYSE: ALL) today announced that it will redeem all of the 7.95% Junior
Subordinated Deferrable Interest Debentures, Series A, that it issued in 1996,
thereby triggering the redemption of all 22 million shares of the 7.95%
Cumulative Quarterly Income Preferred Securities, Series A, issued by Allstate
Financing I, a Delaware business trust, in 1996.
The debentures and the trust preferred securities will be redeemed on
December 7, 2001 at a redemption price of $25 per share plus accrued and
unpaid interest to the date of redemption at the principal Corporate Trust
Office of State Street Bank and Trust Company, 2 Avenue de Lafayette, 6th
Floor, Boston, MA 02111. Holders of these securities will receive a formal
notice of redemption. Questions regarding the redemption procedures should be
directed to State Street Bank and Trust Company at 1-800-531-0368.
The company expects to finance this redemption through its existing shelf
registration statements.
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(R)" slogan, Allstate provides insurance products to more than
14 million households and has approximately 13,000 exclusive agents in the
U.S. and Canada. Customers can access Allstate products and services through
Allstate agents, or in select states at allstate.com and 1-800-Allstate.
Encompass(SM) and Deerbrook(SM) Insurance brand property and casualty products
are sold exclusively through independent agents. Allstate Financial Group
includes the businesses that provide life insurance, retirement and investment
products, through Allstate agents, workplace marketing, independent agents,
banks and securities firms.
SOURCE Allstate Insurance Company
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Related links:
http://www.allstate.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/109885.html
CONTACT:
Michael Trevino, of Allstate Media Relations,
+1-847-402-5600
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