GUSTAFSON TO LEAVE ST. PAUL

September 4, 2000

The St. Paul Companies president and chief operating officer James E. Gustafson will be leaving the company. The decision was a mutual one, arrived at by both Gustafson and the company. The company said over the last several months it has become increasingly apparent that there was not a fit between St. Paul and Gustafson’s “considerable skills.” St. Paul has commenced an external search to identify potential successors.