Exhibit 99

October 1, 1996 -   THE ST. PAUL EXPECTS STORM LOSSES TO RANGE
                    FROM $70 TO $75 MILLION FOR THIRD QUARTER

St. Paul, Minn. - The St. Paul Companies (SPC) today
announced that Hurricane Fran and other third-quarter storms
are expected to decrease The St. Paul's third-quarter pretax
operating earnings by $70 million to $75 million.  Hurricane
Fran, which primarily affected North Carolina and Virginia,
will result in approximately $40 million of the decrease.

     "These third-quarter storm losses come on top of $115
million of pretax storm losses from the first half of the
year.  So 1996 is already The St. Paul's second-worst on
record for storm losses - even though we have another
quarter ahead of us," said Chairman Douglas W. Leatherdale.

     The St. Paul Companies, headquartered in St. Paul,
Minn., is a group of companies that provide property-
liability insurance underwriting, reinsurance underwriting
and insurance brokerage products and services throughout the
world.