Montgomery, Alabama (July 27, 2007) -- Alfa Corp. today announced financial results for the three and six months ended June 30, 2007. Operating income for the quarter was $34,828,816, or $0.43 per diluted share, compared with operating income of $24,428,642, or $0.30 per diluted share, for the second quarter of 2006, a per share increase of 41.9 percent. Net income, which includes net realized investment gains, was $35,281,464, or $0.43 per diluted share, for the second quarter of 2007, compared with $25,508,448, or $0.31 per diluted share in 2006, a per share increase of 37.6 percent. Premiums and policy charges for the second quarter of 2007 increased 5.1 percent to $179,556,628.

For the six months ended June 30, 2007, operating income was $48,342,975 compared with operating income of $44,483,721 for the first six months of 2006. On a per share basis, operating income increased 8.1 percent to $0.59 per diluted share for the six-month period in 2007 compared with $0.55 per diluted share for the same period in 2006. After net realized investment gains, net income was $49,610,284, or $0.61 per diluted share, for the first six months of 2007, compared with net income of $45,645,890, or $0.56 per diluted share, for the same period in 2006, a per share increase of 8.1 percent. Premiums and policy charges increased 5.2 percent to $357,563,010 for the first six months of 2007.

A 30-day Internet play of the July 27 conference call is also available here on Alfa’s Web site. Alfa Corp. is engaged in insurance and financial activities through its subsidiaries. The common stock of Alfa Corp. is traded on the NASDAQ Global Select Market under the symbol ALFA.

The associated investor supplement package for the second quarter ended June 30, 2007, may be found by clicking on the web cast link in the “About Alfa – Investor Relations” section of Alfa’s web site and is also available at: http://www.irinfo.com/alfa/ALFA2q07tvs.pdf.

Investors are cautioned that statements in this press release which relate to the future are, by their nature, uncertain and dependent upon numerous contingencies – including political, economic, regulatory, climatic, competitive, legal, and technological – any of which could cause actual results and events to differ materially from those indicated in such forward-looking statements. Additional information regarding these and other risk factors and uncertainties may be found in Alfa Corp.’s filings with the Securities and Exchange Commission.