NEW YORK (Standard&Poor's) March 31, 2005--Standard&Poor's Ratings Services today commented on the announcement by St. Paul Travelers Cos. Inc. (BBB+/Stable/A-2) on March 30, 2005, of its planned disposition of its ownership interest in Nuveen Investments Inc. Pursuant to this plan, St. Paul Travelers will report its asset-management business as a discontinued operation and will recognize a tax charge of about $690 million in the first quarter of 2005, which will be partially offset by gains in subsequent quarters. This announcement is consistent with the expectations Standard&Poor's had when it affirmed the ratings on St. Paul Travelers and its various subsidiaries on Jan. 31, 2005. As a result, the announcement has no affect on the
