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Progressive Distributes December Results

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

    Month Quarter
(millions, except per share amounts and ratios)

2006

2005

Change

2006

2005

Change

Net premiums written $919.2 $937.4 (2)% $3,194.2 $3,251.8 (2)%
Net premiums earned 1,076.6 1,068.6 1% 3,508.7 3,481.7 1%
Net income 138.9 122.9 13% 400.9 281.6 42%

Per share

.18 .15 20% .53 .35 49%

Pre-tax net realized gains (losses) on securities

9.4 (4.7) NM 14.5 (40.2) NM
 
Combined ratio 86.6 87.2 (.6) pts. 87.7 90.7 (3.0) pts.
Average diluted equivalent shares 751.8 795.3 (5)% 757.3 795.0 (5)%
 
NM = Not Meaningful

See the complete monthly release at http://investors.progressive.com/releases/2006/pdf/mreport_1206.pdf for further month and full year information.

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.