Progressive Insurance Automotive X PRIZE Applauds President Obama's Plans to Accelerate...

Progressive Insurance Automotive X PRIZE Applauds President Obama's Plans to
Accelerate Stricter Fuel Economy and Emissions Standards

PLAYA VISTA, Calif., May 19 /PRNewswire-USNewswire/ -- Today, the Progressive
Insurance Automotive X PRIZE, a competition designed to inspire a new
generation of viable, super fuel efficient vehicles, praised President Obama's
plan to accelerate new fuel economy and emissions standards passed by Congress
at the end of 2007. The plan will set a single new national efficiency
standard that requires passenger cars and light trucks to get an overall
average of 35.5 miles per gallon by 2016, four years earlier than originally
planned.

"Improving the energy efficiency of the U.S. transportation system is one the
most important challenges facing our nation, and this legislation is the
latest and most tangible example of it," said Cristin Lindsay of the
Progressive Insurance Automotive X PRIZE. "We commend President Obama's swift
action -- these new standards are an important first step toward reducing
greenhouse gas emissions and increasing vehicles' fuel economy."

The Progressive Automotive X PRIZE is offering a $10 million prize purse,
funded by Progressive Insurance for production-capable 100 MPGe (miles per
gallon energy equivalent) vehicles that are affordable and meet market needs
for capability, safety and performance.

Last month, the competition announced a list of 111 Registered Teams,
comprising 136 vehicles and 14 different fuel types which intend to compete
for their share of the prize purse.

"The need to dramatically improve vehicle technology and diversify the fuels
that feed our transportation system is more important than ever," added
Lindsay. "Many of the proposed fuels in our competition have a renewable
component and we expect most of our vehicles to use electricity to supplement
consumable renewable-based fuels like E85, E10, B20 biodiesel and natural gas.
Through this competition, we will stimulate innovation and show that the
targeted fuel efficiency standards are possible in the near term."

The Progressive Automotive X PRIZE has received Resolutions of Support from
both the U.S. House of Representatives and the U.S. Senate, as well as
personal support from bipartisan politicians, including Gov. Arnold
Schwarzenegger (R-CA), Gov. Jennifer Granholm (D-MI), Senator Richard Lugar
(R-IN), Senator Jeff Bingaman (D-NM), and New York City Mayor Michael
Bloomberg. The Prize has also received technical support from The U.S.
Department of Energy, The Department of Transportation (NHTSA and Federal
Highway Administration) and the U.S. Environmental Protection Agency. The
Department of Energy has also provided a $3.5M grant to fund the public
Education Program of the Progressive Automotive X PRIZE.

For more information about the Progressive Insurance Automotive X PRIZE,
please visit www.progressiveautoxprize.org or email
progressiveautopress@xprize.org.

About the X PRIZE Foundation:
The X PRIZE Foundation is an educational nonprofit prize institute whose
mission is to create radical breakthroughs for the benefit of humanity. In
2004, the Foundation captured world headlines when Burt Rutan, backed by
Microsoft co-founder Paul Allen, built and flew the world's first private
vehicle to space to win the $10 million Ansari X PRIZE. The Foundation has
since launched the $10 million Archon X PRIZE for Genomics, the $30 million
Google Lunar X PRIZE, and the $10 million Progressive Automotive X PRIZE. The
Foundation is creating prizes in five areas: Exploration (Space and
Underwater), Life Sciences, Energy & Environment, Education and Global
Development. The Foundation is widely recognized as the leading model for
fostering innovation through competition. For more information, please visit
www.xprize.org or email prcontact@xprize.org.

About Progressive:
Progressive, founded in 1937, is one of the country's largest auto insurance
groups and a leading insurer of motorcycles, recreation vehicles, boats, and
commercial vehicles. The Company offers competitive rates and innovative
products and services that meet drivers' needs throughout their lifetimes as
well as 24/7 online and in-person customer and claims service.

One of Progressive's Core Values is Excellence. To the Company's more than
27,000 people, it simply means seeking constant improvement. Over time, this
has meant introducing revolutionary ideas that make car insurance easier to
shop for, buy and use. It's this same innovative spirit that's behind the
Company's sponsorship of the Progressive Automotive X PRIZE. The Progressive
Automotive X PRIZE will inspire innovation that will produce more fuel
efficient vehicle choices, helping to make a difference in people's lives.

Progressive's products and services are available locally through more than
30,000 independent insurance agencies in the U.S., online at
http://www.progressive.com and by phone at 1-800-PROGRESSIVE (1-800-776-4737).

SOURCE X PRIZE Foundation

Carrie Fox, +1-202-255-9214, Carrie.Fox@xprize.org, for X PRIZE Foundation