Progressive Insurance Automotive X PRIZE to Award Up to $10 Million on September 16 in Washington, D.C. Ceremony

Awards Ceremony Culminates Multiyear Challenge to Deliver Production-Capable, Super, Fuel Efficient Vehicles; All Finalist Vehicles will be on Site

Progressive Insurance, the country's fourth largest auto insurance group, and The X PRIZE Foundation, an educational nonprofit prize organization, will announce the winners of the Progressive Insurance Automotive X PRIZE at a special awards ceremony in Washington, D.C. Up to $10 million will be awarded to as many as three teams that proved their entry vehicle could meet the competition's strictest requirements, including the ability to achieve 100 miles per gallon or the energy equivalent (MPGe) and to survive grueling real-world safety, efficiency, emissions, durability and range tests.

WHO/WHAT:
The ceremony, which is open to the public, will be hosted by Arianna Huffington, Co-Founder and Editor- in-Chief of The Huffington Post; Jim Gianopulos, Chairman and CEO of Fox Filmed Entertainment; Glenn Renwick, President and CEO, of Progressive Insurance; and Dr. Peter H. Diamandis, Chairman and CEO of the X PRIZE Foundation. Attendees will have an opportunity to meet the winning and finalist teams and get an up close look at the vehicles and technologies that will shape the future of the automotive industry.

WHEN/WHERE:
Thursday, September 16 at 10:30 a.m. EDT (media registration begins at 10:00 a.m.) Historical Society of Washington, D.C. 801 K Street, NW, Washington, D.C. 20001

WHEN/WHERE:STREAMING VIDEO: The Progressive Insurance Automotive X PRIZE Winners Announcement will be broadcast live at http:/// www.progressiveautoxprize.org/live.

PRESS CREDENTIALS: Credentials are required for all qualified journalists who wish to attend the ceremony. Credentials may be requested at www.progressiveautoxprize.org/ credentials.

ABOUT THE PROGRESSIVE INSURANCE AUTOMOTIVE X PRIZE

The goal of the Progressive Insurance Automotive X PRIZE is to inspire a new generation of viable, super fuel-efficient vehicles that offer more consumer choices. Ten million dollars in prizes will be awarded to the teams that win a stage competition for clean, production-capable vehicles that exceed 100 Miles per gallon or energy equivalent (MPGe). The Progressive Insurance Automotive X PRIZE will place a major focus on efficiency, safety, affordability, and the environment. It is about developing real, production-capable cars that consumers will want to buy, not science projects or concept cars. This progress is needed because today's oil consumption is unsustainable and because automotive emissions significantly contribute to global warming and climate change. The ten million dollar purse and partial funding for prize operations was provided by Progressive Insurance. Additional major funding for education, outreach, and technical operations was provided by $9 million in grants from the U.S. Department of Energy. Additional funding for prize operations was provided by Cisco and private donors. For more information about the Progressive Insurance Automotive X PRIZE, please visit www.progressiveautoxprize.org or email progressiveautopress@xprize.org.

ABOUT PROGRESSIVE:

Progressive, founded in 1937, is one of the country's largest auto insurance groups and a leading insurer of motorcycles, recreation vehicles, boats, and commercial vehicles. The Company offers competitive rates and innovative products and services that meet drivers' needs throughout their lifetimes as well as 24/7 online and in-person customer and claims service. One of Progressive's Core Values is Excellence. To the Company's more than 24,000 people, it simply means seeking constant improvement. Over time, this has meant introducing revolutionary ideas that make car insurance easier to shop for, buy and use. It's this same innovative spirit that's behind the Company's sponsorship of the Progressive Insurance Automotive X PRIZE. The Progressive Insurance Automotive X PRIZE will inspire innovation that will produce more fuel efficient vehicle choices, helping to make a difference in people's lives. Progressive's products and services are available locally through more than 30,000 independent insurance agencies in the U.S., online at http://www.progressive.com/, and by phone at 1-800-PROGRESSIVE (1-800-776-4737).

ABOUT THE X PRIZE FOUNDATION

The X PRIZE Foundation is an educational nonprofit prize institute whose mission is to create radical breakthroughs for the benefit of humanity. In 2004, the Foundation captured world headlines when Burt Rutan, backed by Microsoft co-founder Paul Allen, built and flew the world's first private vehicle to space to win the $10 million Ansari X PRIZE. The Foundation has since launched the $10 million Archon X PRIZE for Genomics, the $30 million Google Lunar X PRIZE, and the $10 million Progressive Insurance Automotive X PRIZE. The Foundation is creating and conducting competitions in four prize groups: Exploration (Space and Oceans), Life Sciences, Energy & Environment, and Education & Global Development. The Foundation is widely recognized as the leader in fostering innovation through competition. For more information, please visit www.xprize.org.