Exhibit 1
Letterhead of McGladrey & Pullen, LLP



                                                     December 4, 2000


Securities and Exchange Commission
Washington, DC  20549

We  were   previously  the  independent   accountants  for  Allstate   Financial
Corporation,  and on March 17,  2000,  we reported on the  consolidated  balance
sheet of Allstate Financial Corporation and subsidiaries as of December 31, 1999
and the related consolidated statements of operations,  stockholders' equity and
cash flows for the year then ended.  On December 4, 2000,  we were  dismissed as
independent accountants of Allstate Financial Corporation.

We have read Allstate Financial  Corporation's  statements included under Item 4
of its Form 8-K dated December 4, 2000, and we agree with such statements.





                           /s/ McGladrey & Pullen, LLP
                             McGladrey & Pullen, LLP

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