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| MEDIA:                                                          |   | ANALYSTS: |
| Katrina W. Parker, 312/822-5167             |   | Nancy M. Bufalino, 312/822-7757 |
| Sarah J. Pang, 312/822-6394       |   | Marie Hotza, 312/822-4278 |
|                                                            |   | David C. Adams, 312/822-2183 |

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|                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                           |   | Results for the Three Months Ended September 30 (a) |   | Results for the Nine Months Ended September 30 (a) |
| ($ millions)                                   |   | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Net operating income (loss):                   |   |   |   |   |   |   |   |   |
| Net operating income before LPT (b)            |   | $ | 91 |  |   | $ | 186 |  |   | $ | 423 |  |   | $ | 678 |  |
| Net loss related to LPT (b)                    |   | — |  |   | (344 | ) |   | — |  |   | (344 | ) |
| Net operating income (loss)                    |   | 91 |  |   | (158 | ) |   | 423 |  |   | 334 |  |
| Net realized investment gains (losses)         |   | (16 | ) |   | 40 |  |   | 2 |  |   | 75 |  |
| Net income (loss) from continuing operations   |   | 75 |  |   | (118 | ) |   | 425 |  |   | 409 |  |
| Net income (loss) from discontinued operations |   | — |  |   | (22 | ) |   | (1 | ) |   | (21 | ) |
| Net income (loss)                              |   | $ | 75 |  |   | $ | (140 | ) |   | $ | 424 |  |   | $ | 388 |  |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
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| (a) | References to net operating income (loss), net realized investment gains (losses), net income (loss) from continuing operations and net income (loss) used in this press release reflect amounts attributable to CNA, unless otherwise noted.  Management utilizes the net operating income financial measure to monitor the Company's operations.  Please refer to Note N of the Consolidated Financial Statements within CNA's Annual Report on Form 10-K for the year ended December 31, 2010 for further discussion of this measure. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
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| (b) | On August 31, 2010, the Company completed a transaction with National Indemnity Company (NICO), a subsidiary of Berkshire Hathaway Inc., under which substantially all of the Company's legacy asbestos and environmental pollution liabilities were ceded to NICO (Loss Portfolio Transfer or LPT).  The Company recognized an after-tax net loss of $365 million in the third quarter of 2010, of which $344 million related to the Company's continuing operations and $21 million related to the Company's discontinued operations. |

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|                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Earnings Per Share Attributable to Common Stockholders       |
|                                                         | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
|                                                         | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Net operating income (loss):                                 |   |   |   |   |   |   |   |
| Net operating income before LPT                              | $ | 0.34 |  |   | $ | 0.69 |  |   | $ | 1.57 |  |   | $ | 2.52 |  |
| Net loss related to LPT                                      | — |  |   | (1.28 | ) |   | — |  |   | (1.28 | ) |
| Net operating income (loss)                                  | 0.34 |  |   | (0.59 | ) |   | 1.57 |  |   | 1.24 |  |
| 2008 Senior Preferred dividend                               | — |  |   | (0.07 | ) |   | — |  |   | (0.25 | ) |
| Net operating income attributable to CNA common stockholders | 0.34 |  |   | (0.66 | ) |   | 1.57 |  |   | 0.99 |  |
| Net realized investment gains (losses)                       | (0.06 | ) |   | 0.15 |  |   | 0.01 |  |   | 0.28 |  |
| Net income (loss) from continuing operations                 | 0.28 |  |   | (0.51 | ) |   | 1.58 |  |   | 1.27 |  |
| Net income (loss) from discontinued operations               | — |  |   | (0.08 | ) |   | — |  |   | (0.08 | ) |
| Net income (loss) attributable to CNA common stockholders    | $ | 0.28 |  |   | $ | (0.59 | ) |   | $ | 1.58 |  |   | $ | 1.19 |  |

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|         |                                                                                                                                                                                                                                                                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums increased $44 million for the third quarter of 2011 as compared with the same period in 2010, primarily driven by new business.  Average rate was flat for the third quarter of 2011, as compared to a decrease of 3% for the same period in 2010 for the policies that renewed in each period.  Retention of 86% was achieved in each period. |

|         |                                                                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net income decreased $74 million and net operating income decreased $60 million for the third quarter of 2011 as compared with the same period in 2010.  The decrease in net operating income was primarily due to decreased net investment income and a lower level of favorable net prior year development. |

|         |                                                                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio increased 6.2 points for the third quarter of 2011 as compared with the same period in 2010.  The loss ratio increased 7.7 points, primarily due to a lower level of favorable net prior year development. |

|         |                                                                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | CNA Specialty produced third quarter combined ratios of 94.7% and 88.5% in 2011 and 2010. Excluding the impacts of favorable reserve development and catastrophe losses, our combined ratios were 97.3% and 98.2% for the same comparable periods. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums increased $73 million for the third quarter of 2011 as compared with the same period in 2010.  This increase was driven by continued positive rate achievement, improved economic conditions reflected in insured exposures, as well as improved reinsurance costs and new business levels in certain business lines.  Average rate increased 2% for the third quarter of 2011 and was flat for the third quarter of 2010 for the policies that renewed in each period.  Retention of 79% and 81% were achieved in each period. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net income decreased $85 million and net operating income decreased $62 million for the third quarter of 2011 as compared with the same period in 2010.  The decrease in net operating income was primarily due to lower net investment income and higher catastrophe losses, partially offset by improved non-catastrophe current accident year underwriting results and increased favorable net prior year development.  Additionally, income tax expense of $22 million was recorded due to an increase in the tax rate applicable to the undistributed earnings of a 50% owned subsidiary now under contract for sale. |

|         |                                                                                                                                                                                                                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio improved 2.8 points for the third quarter of 2011 as compared with the same period in 2010.  The loss ratio improved 1.6 points, primarily due to increased favorable net prior year development and an improved current accident year non-catastrophe loss ratio, partially offset by higher catastrophe losses. |

|         |                                                                                                                                                                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | CNA Commercial produced third quarter combined ratios of 103.0% and 105.8% in 2011 and 2010. Excluding the impacts of favorable reserve development and catastrophe losses, our combined ratios were 104.1% and 108.3% for the same comparable periods. |

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|         |                                                                                                                                                                                                                                                                           |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net loss decreased $25 million for the third quarter of 2011 as compared with the same period in 2010.  This improvement was primarily due to a $39 million pretax and after-tax increase to payout annuity benefit reserves recognized during the third quarter of 2010. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net loss decreased $327 million for the third quarter of 2011 as compared with the same period in 2010, primarily driven by the after-tax net loss of $344 million as a result of the Loss Portfolio Transfer consummated in the third quarter of 2010. Net results were also affected by lower net investment income partially offset by lower net incurred claims.  Under the Loss Portfolio Transfer, approximately $1.6 billion of net A&EP claim and claim adjustment expense reserves were ceded under a retroactive reinsurance agreement.  As a result of the Loss Portfolio Transfer, the investment income allocated to the Corporate & Other Non-Core segment decreased because of the lower net reserve base and associated risk capital.  Claim adjustment expenses are lower because the counterparty to the Loss Portfolio Transfer is responsible for the A&EP claims handling. |

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|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Segment Results for the Three Months Ended September 30, 2011 |
| ($ millions)                                                  | CNA Specialty |   | CNA Commercial |   | Total P&C Operations |   | Life & Group Non-Core |   | Corporate & Other Non-Core |   | Total |
| Net operating income (loss)                                   | $ | 84 |  |   | $ | 46 |  |   | $ | 130 |  |   | $ | (14 | ) |   | $ | (25 | ) |   | $ | 91 |  |
| Net realized investment gains (losses)                        | (5 | ) |   | (9 | ) |   | (14 | ) |   | (3 | ) |   | 1 |  |   | (16 | ) |
| Net income (loss) from continuing operations                  | $ | 79 |  |   | $ | 37 |  |   | $ | 116 |  |   | $ | (17 | ) |   | $ | (24 | ) |   | $ | 75 |  |

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|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Segment Results for the Three Months Ended September 30, 2010 |
| ($ millions)                                                  | CNA Specialty |   | CNA Commercial |   | Total P&C Operations |   | Life & Group Non-Core |   | Corporate & Other Non-Core |   | Total |
| Net operating income (loss)                                   | $ | 144 |  |   | $ | 108 |  |   | $ | 252 |  |   | $ | (55 | ) |   | $ | (355 | ) |   | $ | (158 | ) |
| Net realized investment gains (losses)                        | 9 |  |   | 14 |  |   | 23 |  |   | 13 |  |   | 4 |  |   | 40 |  |
| Net income (loss) from continuing operations                  | $ | 153 |  |   | $ | 122 |  |   | $ | 275 |  |   | $ | (42 | ) |   | $ | (351 | ) |   | $ | (118 | ) |

|                                                              |
|--------------------------------------------------------------|
|                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Segment Results for the Nine Months Ended September 30, 2011 |
| ($ millions)                                                 | CNA Specialty |   | CNA Commercial |   | Total P&C Operations |   | Life & Group Non-Core |   | Corporate & Other Non-Core |   | Total |
| Net operating income (loss)                                  | $ | 328 |  |   | $ | 216 |  |   | $ | 544 |  |   | $ | (51 | ) |   | $ | (70 | ) |   | $ | 423 |  |
| Net realized investment gains (losses)                       | 5 |  |   | 9 |  |   | 14 |  |   | (5 | ) |   | (7 | ) |   | 2 |  |
| Net income (loss) from continuing operations                 | $ | 333 |  |   | $ | 225 |  |   | $ | 558 |  |   | $ | (56 | ) |   | $ | (77 | ) |   | $ | 425 |  |

|                                                              |
|--------------------------------------------------------------|
|                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Segment Results for the Nine Months Ended September 30, 2010 |
| ($ millions)                                                 | CNA Specialty |   | CNA Commercial |   | Total P&C Operations |   | Life & Group Non-Core |   | Corporate & Other Non-Core |   | Total |
| Net operating income (loss)                                  | $ | 440 |  |   | $ | 331 |  |   | $ | 771 |  |   | $ | (72 | ) |   | $ | (365 | ) |   | $ | 334 |  |
| Net realized investment gains (losses)                       | 39 |  |   | 14 |  |   | 53 |  |   | 8 |  |   | 14 |  |   | 75 |  |
| Net income (loss) from continuing operations                 | $ | 479 |  |   | $ | 345 |  |   | $ | 824 |  |   | $ | (64 | ) |   | $ | (351 | ) |   | $ | 409 |  |

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|-----------------------------------------------------------|
|                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Property & Casualty Operations Gross Written Premiums |
|                                                      | Three Months Ended September 30 |   | Nine Months Ended September 30 |
| ($ millions)                                              | 2011 |   | 2010 |   | 2011 |   | 2010 |
| CNA Specialty                                             | $ | 1,139 |  |   | $ | 1,087 |  |   | $ | 3,348 |  |   | $ | 3,180 |  |
| CNA Commercial                                            | 882 |  |   | 825 |  |   | 2,740 |  |   | 2,673 |  |
| Total P&C Operations                                  | $ | 2,021 |  |   | $ | 1,912 |  |   | $ | 6,088 |  |   | $ | 5,853 |  |

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|---------------------------------------------------------|
|                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Property & Casualty Operations Net Written Premiums |
|                                                    | Three Months Ended September 30 |   | Nine Months Ended September 30 |
| ($ millions)                                            | 2011 |   | 2010 |   | 2011 |   | 2010 |
| CNA Specialty                                           | $ | 750 |  |   | $ | 706 |  |   | $ | 2,172 |  |   | $ | 2,009 |  |
| CNA Commercial                                          | 836 |  |   | 763 |  |   | 2,544 |  |   | 2,430 |  |
| Total P&C Operations                                | $ | 1,586 |  |   | $ | 1,469 |  |   | $ | 4,716 |  |   | $ | 4,439 |  |

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|                                                   |  |  |  |  |  |  |  |  |  |  |  |
| Property & Casualty Calendar Year Loss Ratios |
|                                              | Three Months Ended September 30 |   | Nine Months Ended September 30 |
|                                              | 2011 |   | 2010 |   | 2011 |   | 2010 |
| CNA Specialty                                     | 65.5 | % |   | 57.8 | % |   | 63.6 | % |   | 55.8 | % |
| CNA Commercial                                    | 68.7 | % |   | 70.3 | % |   | 74.7 | % |   | 68.5 | % |
| Total P&C Operations                          | 67.2 | % |   | 64.7 | % |   | 69.5 | % |   | 62.8 | % |

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |
| Property & Casualty Calendar Year Combined Ratios |
|                                                  | Three Months Ended September 30 |   | Nine Months Ended September 30 |
|                                                  | 2011 |   | 2010 |   | 2011 |   | 2010 |
| CNA Specialty                                         | 94.7 | % |   | 88.5 | % |   | 93.9 | % |   | 86.6 | % |
| CNA Commercial                                        | 103.0 | % |   | 105.8 | % |   | 109.3 | % |   | 104.7 | % |
| Total P&C Operations                              | 99.1 | % |   | 98.0 | % |   | 102.1 | % |   | 96.6 | % |

|                                                                                          |
|------------------------------------------------------------------------------------------|
|                                                                                          |  |  |  |  |  |  |  |  |  |  |  |
| CNA Specialty Effect of Catastrophe Impacts and Development-Related Items                |
|                                                                                     | Three Months Ended September 30 |   | Nine Months Ended September 30 |
|                                                                                     | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Combined ratio excluding the effect of catastrophe impacts and development-related items | 97.3 |  % |   | 98.2 |  % |   | 97.9 |  % |   | 97.2 |  % |
| Effect of catastrophe impacts                                                            | 0.5 |  % |   | 0.1 |  % |   | 0.5 |  % |   | 0.3 |  % |
| Effect of development-related items                                                      | (3.1 | )% |   | (9.8 | )% |   | (4.5 | )% |   | (10.9 | )% |
| Combined ratio                                                                           | 94.7 |  % |   | 88.5 |  % |   | 93.9 |  % |   | 86.6 |  % |

|                                                                                          |
|------------------------------------------------------------------------------------------|
|                                                                                          |  |  |  |  |  |  |  |  |  |  |  |
| CNA Commercial Effect of Catastrophe Impacts and Development-Related Items               |
|                                                                                     | Three Months Ended September 30 |   | Nine Months Ended September 30 |
|                                                                                     | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Combined ratio excluding the effect of catastrophe impacts and development-related items | 104.1 |  % |   | 108.3 |  % |   | 104.6 |  % |   | 108.5 |  % |
| Effect of catastrophe impacts                                                            | 5.5 |  % |   | 1.4 |  % |   | 8.1 |  % |   | 3.9 |  % |
| Effect of development-related items                                                      | (6.6 | )% |   | (3.9 | )% |   | (3.4 | )% |   | (7.7 | )% |
| Combined ratio                                                                           | 103.0 |  % |   | 105.8 |  % |   | 109.3 |  % |   | 104.7 |  % |

|                                                                                                |
|------------------------------------------------------------------------------------------------|
|                                                                                                |  |  |  |  |  |  |  |  |  |  |  |
| Property & Casualty Operations Effect of Catastrophe Impacts and Development-Related Items |
|                                                                                           | Three Months Ended September 30 |   | Nine Months Ended September 30 |
|                                                                                           | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Combined ratio excluding the effect of catastrophe impacts and development-related items       | 101.0 |  % |   | 103.7 |  % |   | 101.6 |  % |   | 103.5 |  % |
| Effect of catastrophe impacts                                                                  | 3.1 |  % |   | 0.8 |  % |   | 4.5 |  % |   | 2.3 |  % |
| Effect of development-related items                                                            | (5.0 | )% |   | (6.5 | )% |   | (4.0 | )% |   | (9.2 | )% |
| Combined ratio                                                                                 | 99.1 |  % |   | 98.0 |  % |   | 102.1 |  % |   | 96.6 |  % |

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