Allied Mutual Postpones Policyholder Meeting From July 28 Until August 26

Allied Mutual Insurance Company today announced that the Special Meeting of its policyholders, scheduled for July 28, 1998 to vote on the Company's proposed merger with Nationwide Mutual Insurance Company, has been postponed until August 26, 1998. The meeting was postponed because approximately 5 percent of Allied Mutual's policyholders did not receive proxy materials from the Company due to a processing oversight.

"While only a fraction of Allied Mutual policyholders were affected, we want every policyholder of Allied Mutual to have the opportunity to vote on the merger," says Douglas L. Andersen, president and CEO.

The company said it would mail materials announcing policyholder-meeting particulars early this week to all policyholders. Additionally, the company will be mailing copies of the proxy statement dated June 29, 1998 to those policyholders who were not provided with proxy materials due to the processing oversight.

The Iowa Insurance Department regulatory hearing scheduled for July 29, 1998 is a combined hearing on the proposed merger of Allied Mutual and Nationwide Mutual Insurance Company and of Nationwide's acquisition of control of the Allied Group, Inc. property and casualty subsidiaries and of Allied Life Financial Corporation life insurance subsidiary.

Because of the postponement of the policyholder meeting, the Iowa Commissioner has issued an order stating that at the close of the evidence at the July 29 hearing, the Allied Mutual hearing will be adjourned until August 31, 1998, to give those policyholders not included in the original mailing the opportunity to participate in the reconvened hearing.