Three Storms Means Triple Effort for USAA; USAA offers support; special packages for Hurricane victims

SAN ANTONIO--Sept. 20, 2004--Thousands of USAA members in the Southeast affected by three major hurricanes within five weeks are drawing on the strength of USAA -- both financially and physically. More than 700 employees on the ground -- and throughout the company -- currently are assisting members who have filed more than 28,000 claims since mid-August and are already assisting those impacted by Hurricane Ivan. In fact, USAA had teams of claims and policy service representatives headed to the areas projected to be hardest hit before Ivan's landfall in order to be first on-site to help members in need.

The USAA "first response" team is situated close to military bases impacted by the storms. On-site assistance includes helping members file claims, answering questions about insurance coverage and explaining options for recovering from the storm's damage. Members can also report claims by calling 800-531-8222.

While it is still too early to project what the impact of Ivan will be, it is safe to say that it will impact many of the military families that USAA serves. While USAA has estimated that the financial impact of Hurricanes Charley and Frances to be less than $260 million dollars, that figure is well within the capital the company had set aside for such catastrophes.

"We are physically and financially ready to help our members put their lives back together," said Henry Viccellio, USAA Property & Casualty Company president. "There is no substitute for being where your members need you -- when they need you. We are dedicated to assisting every USAA member that has been affected."

Some of the products and services available to those affected by the hurricanes include:

-- Zero percent APR until July 31, 2005 on purchases and balance transfers made by January 31st using credit cards issued through USAA Savings Bank(a).

-- Certain fees waived on investment and insurance products from USAA Investment Management Company and USAA Property and Casualty Company.

-- Special reduced rental rates from Hertz through an alliance with USAA's Alliance Services Company.

USAA is a highly competitive financial services company known for its financial strength and outstanding service to its members. USAA owns or manages assets of $79 billion, and provides insurance, banking, and investment products to more than 5 million members of the military and their families. Founded in 1922, USAA has 21,000 employees in its San Antonio headquarters and regional offices, and is widely recognized as one of the best places to work in America.

Banking and credit card products are provided by USAA Federal Savings Bank, an equal housing lender, and USAA Savings Bank, respectively, both FDIC insured.

(a) If any payment is 30 days past due, the special APR will end early. The non-promotional APRs are variable rates and will be determined upon account opening. The lowest variable rates are currently 4.5% APR for Purchases and 7.5% for Cash Advances (with no cash advance fees). The highest variable rates are currently 14.4% APR for purchases and 17.4% for cash advances with a cash advance fee of 3% of the amount of each new Cash Advance. If any payment is 30 days late, all variable APRs increase by 3 percentage points until 3 consecutive payments are made on time.

Banking and credit card products are provided by USAA Federal Savings Bank, an equal housing lender, and USAA Savings Bank, respectively, both FDIC insured.

Nondeposit investment products are not insured by the FDIC, are not deposits or other obligations of, or guaranteed by USAA Federal Savings Bank or USAA Savings Bank, are subject to investment risks and may lose value.

USAA means United Services Automobile Association and its subsidiaries and affiliates. Property and casualty insurance is provided by United Services Automobile Association and its subsidiary and affiliate property and casualty insurance companies, and is available only to persons eligible for group membership. Investment products and services are provided by USAA Investment Management Company, a registered broker dealer. Life and health insurance and annuity products are provided by USAA Life Insurance Company, San Antonio, TX except in NY. In NY, life insurance and fixed annuities are provided by USAA Life Insurance Company of New York, Highland Falls, New York. Financial planning services and financial advice are provided by USAA Financial Planning Services Insurance Agency, Inc. (known as USAA Financial Services Insurance Agency in California), a registered investment adviser and insurance agency and its wholly owned subsidiary, USAA Financial Advisors, Inc., a registered broker dealer. Merchandise services are provided by USAA Merchandise Services Company. Alliance services are provided through USAA Alliance Services, L.P. Banking and credit card products are provided by USAA Federal Savings Bank, an equal housing lender, and USAA Savings Bank, respectively, both FDIC-insured.