Allied Group: To Move To The NYSE

CONTACT:  Jim Shaffer, President (Financial)
          (515) 280-4326                             
                                    
                                    
                                    
                                    
                         
                                   
                            ALLIED GROUP, INC.
                 TO MOVE TO THE NEW YORK STOCK EXCHANGE

Des Moines, Iowa, January 20, 1997 -- ALLIED Group, Inc. (Nasdaq symbol ALGR)
announced today the Company has filed an application to begin trading its
common shares on the New York Stock Exchange (NYSE).  The Company expects its
common stock will begin trading on the NYSE on Tuesday, February 11, 1997.  The
proposed new stock symbol for ALLIED Group, Inc. will be GRP.

"We are convinced that our shareholders and potential investors will be able to
benefit from the improved liquidity and efficiency that the NYSE offers", said
Jim Shaffer, President (Financial).  "This move is consistent with the
Company's goal of providing value to our shareholders."

ALLIED Group, Inc. has 20.4 million common shares outstanding and will continue
to trade on the Nasdaq National Market system until the NYSE listing becomes
effective.  The Company's market capitalization is approximately $675 million. 

ALLIED Group, Inc. is a regional property-casualty insurance holding company
specializing in personal lines.  The Company's property-casualty subsidiaries
use independent agencies, exclusive agencies, and direct response marketing to
offer products in central and western states. Information on ALLIED Group, Inc.
is now available at http://www.cprofiles.com, and http://www.cfonews.com/algr. 
               
                                                      
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