X0202 4 2006-01-31 0000086104 SAFECO CORP SAFC 0001307947 Hendry W Myron SAFECO PLAZA 4333 BROOKLYN AVENUE NE SEATTLE WA 98185 0 1 0 0 Sr. VP - Safeco Insurance Cos. Phantom Stock Units 2006-01-31 4 A 0 21.894 33.14 A Common Stock 21.894 21.894 D These Phantom Stock Units may be converted to shares of Safeco stock as follows: The number of Phantom Stock Units acquired multiplied by the price of Phantom Stock Units on the transaction date divided by the closing price of Safeco stock on the transaction date. These Phantom Stock Units were accrued under the Safeco Corporation Deferred Compensation Plan for Executives (the "Plan") from dividend equivalents received on restricted stock rights held by the reporting person and will be settled in cash following termination of the reporting person's service as an officer of Safeco Corporation, or may be reallocated to another investment option pursuant to the terms of the Plan. Sarah Dods, Attorney-in-Fact for W. Myron Hendry 2006-02-02