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State Auto Financial Corporation Announces Stock Repurchase Plan

7 May 1999

State Auto Financial Corporation Announces Stock Repurchase Plan

    COLUMBUS, Ohio--May 7, 1999--The Board of Directors of State Auto Financial Corporation today approved a plan to repurchase up to four million shares of its common stock until December 31, 2000.
    Currently, State Automobile Mutual Insurance Company owns approximately 70% of the total STFC shares outstanding and the public owns the other 30%. STFC anticipates repurchasing the shares in the same proportion.
    State Auto Financial Corporation is a regional property and casualty insurance holding company engaged primarily in writing personal and commercial automobile, homeowners, commercial multi-peril, workers' compensation and fire insurance. The Company currently markets its products through more than 12,500 agents associated with approximately 2,200 agencies in 26 states. Products are marketed primarily in the Midwest and Eastern United States, excluding New York, New Jersey and the New England states.