Allied Life: Annual Meeting Date




                     ALLIED LIFE FINANCIAL CORPORATION ANNOUNCES
                 
                          ANNUAL MEETING FOR STOCKHOLDERS

                        Contact Wendell Crosser (515)280-4622

Des Moines, Iowa, January 5, 1998 -- ALLIED Life Financial Corporation (NASDAQ
symbol ALFC) announced its Board of Directors set February 25, 1998 as the date
of record for the 1998 Annual Meeting of Stockholders to be held May 5, 1998.
The Board adopted a Bylaw amendment to provide for advance notification of
stockholder proposals and director nominations.


ALLIED Life Financial Corporation is a holding company that, through its
principal subsidiary, ALLIED Life Insurance Company, underwrites, markets, and
distributes life insurance and annuity products in rural and suburban
areas of the midwestern and western United States.  




Ends.