Exhibit No. 99

FOR IMMEDIATE RELEASE

Contact:  Michael Trevino
          Mary Alice Horstman
          Media Relations
          (847) 402-5600

          Robert Block
          Phil Dorn
          Investor Relations
          (847) 402-2800

        ALLSTATE CORPORATION ANNOUNCES SECOND QUARTER CATASTROPHE LOSSES

Northbrook, IL - July 10, 2001 - The Allstate Corporation announced today that
its pre-tax catastrophe losses for the second quarter of 2001 are estimated to
be $536 million. Several severe spring storms, including flood damage caused by
Tropical Storm Allison, caused approximately $446 million in losses. In
addition, $90 million of additional reserves will be recorded to provide for
resolution of claims remaining from the 1994 earthquake in Northridge,
California.

The estimated catastrophe losses would add 9.7 points to the combined ratio for
the second quarter of 2001 and impact after-tax diluted earnings per share by
approximately $.48. By comparison, second quarter 2000 catastrophe losses were
$367 million pre-tax, which added 6.7 points to the combined ratio and impacted
after-tax diluted earnings per share by $.32.

"This has been an active spring storm season, combined with significant damage
due to Tropical Storm Allison," said Chairman, President and CEO Edward M.
Liddy. "We are in the business of taking care of our customers when disasters
strike, and this is an example of our commitment to be there when our customers
need us."

Through the first half of 2001, estimated pre-tax catastrophe losses are $618
million. The estimated catastrophe losses would add 5.6 points to the combined
ratio for the first half of 2001 and impact after-tax diluted earnings per share
by $.55. By comparison, the pre-tax catastrophe losses for the first half of
2000 were $749 million, which added 6.8 points to the combined ratio, and
impacted after-tax diluted earnings per share by $.64.

This press release contains forward-looking statements about Allstate's
catastrophe losses and their potential impact on its financial results. Such
statements are subject to the Private Securities Litigation Reform Act of 1995
and are based on management's estimates, assumptions and projections. Allstate's
actual results may differ materially from those projected in the forward-looking
statements. Allstate is still receiving and evaluating claims related to the
catastrophes occurring in the second quarter of 2001.


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The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held
personal lines insurer. Widely known through the "You're In Good Hands With
Allstate(R)" slogan, Allstate provides insurance products to more than 14
million households and has approximately 13,000 exclusive agents in the U.S. and
Canada. Customers can access Allstate products and services through Allstate
agents, or in select states at allstate.com and 1-800-Allstate. Encompass-SM-
and Deerbrook-SM- Insurance brand property and casualty products are sold
exclusively through independent agents. Allstate Financial Group includes the
businesses that provide life insurance, retirement and investment products.


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