EX-5 5 l00197aexv5.txt EX-5 OPINION OF BAKER & HOSTETLER Exhibit 5 April 21, 2003 The Progressive Corporation 6300 Wilson Mills Road Mayfield Village, OH 44143 Re: Common Shares issuable under The Progressive Corporation 2003 Directors Equity Incentive Plan Gentlemen: We have acted as counsel to The Progressive Corporation, an Ohio corporation (the "Company"), in connection with its Registration Statement on Form S-8 (the "Registration Statement") filed under the Securities Act of 1933, as amended, relating to the offering of up to 350,000 Common Shares, $1.00 par value (the "Common Shares"), of the Company pursuant to the Company's 2003 Directors Equity Incentive Plan (the "Plan"). In connection with the foregoing, we have examined (a) the Amended Articles of Incorporation, as amended, and the Code of Regulations of the Company, (b) the Plan, and (c) such records of the corporate proceedings of the Company and such other documents as we deem necessary to render this opinion. Based on such examination, we are of the opinion that: 1. The Company is a corporation duly organized and validly existing under the laws of the State of Ohio. 2. The Common Shares available for issuance under the Plan, when issued and sold pursuant to the Plan, will be legally issued, fully paid and nonassessable. We hereby consent to the filing of this opinion as Exhibit 5 to the Registration Statement. Very truly yours, Baker & Hostetler LLP