StanCorp Financial Group, Inc. Declares Annual Cash Dividend; Announces New Share Repurchase Program

PORTLAND, Ore.--(Business Wire)--
The Board of Directors of StanCorp Financial Group, Inc. ("StanCorp") (NYSE:SFG)
today declared an annual cash dividend of $0.80 per share, payable December 4,
2009, to shareholders of record on November 20, 2009. The annual cash dividend
of $0.80 per share represents a 7% increase over last year`s dividend of $0.75
per share.

StanCorp also announced that its Board of Directors has authorized a new share
repurchase program of up to 2 million shares of StanCorp common stock.

"StanCorp is a strong and stable company that has protected and grown its
capital base while navigating through a difficult economy," said Greg Ness,
president and chief executive officer. "Given our solid operations and continued
financial strength, we are pleased to be able to provide additional returns to
shareholders by increasing the dividend and maintaining an active repurchase
program. At StanCorp, returning value to shareholders remains a top priority."

Share repurchases under the new repurchase program will be made in the open
market or in negotiated transactions through December 31, 2011. The new
repurchase program will take effect upon the earliest of completion or the
expiration of the existing repurchase program, which had approximately 0.9
million shares remaining at September 30, 2009, and expires December 31, 2009.

About StanCorp Financial Group, Inc.

StanCorp Financial Group, Inc., through its subsidiaries marketed as The
Standard - Standard Insurance Company, The Standard Life Insurance Company of
New York, Standard Retirement Services, StanCorp Mortgage Investors, StanCorp
Investment Advisers, StanCorp Real Estate and StanCorp Equities - is a leading
provider of financial products and services. StanCorp`s subsidiaries serve
approximately 8.2 million customers nationwide as of September 30, 2009, with
group and individual disability insurance, group life, AD&D and dental
insurance, retirement plans products and services, individual annuities and
investment advice. For more information about StanCorp Financial Group, Inc.,
visit its Web site at www.stancorpfinancial.com.

Disclosure

Information in this news release includes certain statements related to
projected growth and future events. These statements are "forward-looking"
statements as that term is defined in the Private Securities Litigation Reform
Act of 1995. Because such statements are subject to risks and uncertainties,
actual results in future periods may differ materially from those expressed or
implied by such forward-looking statements. See StanCorp's 2008 annual report on
Form 10-K and most recent Form 10-Q filed with the Securities and Exchange
Commission for a description of the types of uncertainties and risks that may
affect actual results.

StanCorp Financial Group, Inc.
Investor Relations and Financial Media
Jeff Hallin, 971-321-6127
jeff.hallin@standard.com
or
General Media and Public Affairs
Bob Speltz, 971-321-3162
bob.speltz@standard.com

Copyright Business Wire 2009