Progressive Distributes November Results

MAYFIELD VILLAGE, Ohio--The Progressive Corporation today reported the following results for November 2006:

(millions, except per share amounts and ratios)	November 2006		November 2005		Change
Net premiums written	$959.2		$986.3		(3)%
Net premiums earned	1,077.4		1,073.1		0%
Net income	131.9		83.3		58%
Per share	.17		.10		66%
Combined ratio	87.0		89.9		(2.9) pts.

See the complete monthly release at http://investors.progressive.com/releases/2006/pdf/mreport_1106.pdf for further month and year-to-date information.

In addition, on December 8, 2006, the Board of Directors confirmed, as previously announced, that we intend to use a variable dividend formula in 2007 to determine an annual dividend payout on our outstanding Common Shares, replacing the existing policy of paying quarterly Common Share dividends. The variable dividend payout is based on a formula which multiplies our annual after-tax underwriting income by both a Shareholder Gainshare Target, which is annually set by the Board, and a Gainshare Factor. At the December 8 meeting, the Board established 20% as the Shareholder Gainshare Target to be used in the 2007 dividend calculation. The Gainshare Factor will be a number from 0.0 to 2.0, depending on the levels of growth and profitability in our principal business units, and will vary from year to year. The 2006 year-to-date Gainshare Factor can be found on page 6 of the complete monthly release. Subject to final declaration by the Board, it is anticipated that the record date for the 2007 annual dividend will be in December 2007 with the payout expected in early 2008. For additional information on this variable dividend policy, see Exhibits 99(A) and 99(B), which are attached to our Annual Report on Form 10-K for the year ended December 31, 2005.

The Progressive Group of Insurance Companies, in business since 1937, ranks third in the nation for auto insurance based on premiums written and provides drivers with competitive rates and 24/7, in-person and online service. The products and services of the Progressive Direct Group of Insurance Companies are marketed directly to consumers online at www.progressivedirect.com and by phone at 1-800-PROGRESSIVE through the Progressive Direct^® brand. The Drive Group of Progressive Insurance Companies offers insurance through more than 30,000 independent insurance agencies that market their products and services through the Drive^® Insurance from Progressive brand. For more information about Drive Insurance, go to www.driveinsurance.com. The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, are publicly traded at . More information, including a guide to interpreting the monthly reporting package, can be found at www.progressive.com.