State Auto Financial Declares 60th Consecutive Quarterly Dividend

Today the board of directors of State Auto Financial
Corporation (NASDAQ:STFC) declared a quarterly cash dividend of $0.09
per share, payable June 30, 2006, to shareholders of record at the
close of business on June 15, 2006.
   This is the 60th consecutive quarterly cash dividend declared by
the company's board since STFC had its initial public offering of
common stock on June 28, 1991. STFC's dividend payments have increased
at a compound average annual growth rate of 15% since 1991.
   State Auto Financial Corporation, headquartered in Columbus, Ohio,
is a property and casualty insurance holding company. The company
markets its personal and commercial insurance products through more
than 22,300 independent insurance agents associated with approximately
3,000 agencies in 27 states. The company has been named Forbes
Magazine's "Best Managed Insurance Company in America" for 2006 and is
in a select group, making up just 3% of publicly traded companies,
earning the Mergent Dividend Achiever Award for having increased its
dividends for ten or more years in succession. The State Auto
Insurance Companies are rated A+ (Superior) by the A.M. Best Company.
Additional information on the company can be found on its web page at
www.STFC.com.