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April 24, 2003   Email to Friend 

ALFA CORPORATION ANNOUNCES INCREASE IN QUARTERLY CASH DIVIDEND
Debra Davis
(334) 613-4686
April 24, 2003

MONTGOMERY, Ala. -- Alfa Corporation (Nasdaq/NM:ALFA) today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.08 per share, an increase of 6.7% over the previous quarterly rate. This represents the 29th consecutive year in which cash dividends have increased. The quarterly cash dividend is payable May 30, 2003, to stockholders of record at the close of business on May 15, 2003.

Alfa Corporation is engaged in insurance and financial activities through its subsidiaries. The common stock of Alfa Corporation is traded on the NASDAQ Stock Market (National Market System) under the symbol ALFA.


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