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First Day of Business for Symetra Financial

Forty-seven-year-old company adopts new name today



REDMOND, WA
September 1, 2004

Symetra Financial, the Redmond, Wash.-based life insurance and investments company, today celebrated its first day of business under a new name. The sale of the former Safeco Corp. unit, Safeco Life & Investments, closed on July 31, 2004.

The company has received approval in nearly all of the states in which it operates to begin marketing its products and services under the new name. The company also announced today the launch of its new Web site, www.symetra.com.

"The sale is behind us, and momentum is already building as we take our first steps today as Symetra Financial," said Randy Talbot, president and CEO of Symetra Financial Corp. "Although our name is new, we have all the advantages of being a well-capitalized, financially strong business built on the foundation of a proud 47-year history of performance."

Symetra Financial, formerly Safeco Life & Investments, represents a team of affiliated insurance and financial services companies, including Symetra Life Insurance Co. (Redmond, Wash.). Symetra Life Insurance Co., formerly Safeco Life Insurance Co. (est. 1957) has grown to a company with 2 million customers, more than 1,200 employees and more than $22 billion in GAAP assets as of June 30, 2004. Together, Symetra Financial and its 20,000 independent agents and advisors provide annuities, life insurance, group employee benefits and retirement plans to customers throughout the Unites States.


      
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