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CNA FINANCIAL CORP Director's Dealing 2007

May 7, 2007

30494_dirs_2007-05-07_61649cec-0b79-4d2c-b745-4762f1ad1de2.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CNA FINANCIAL CORP (CNA)
CIK: 0000021175
Period of Report: 2007-05-03

Reporting Person: LEWIS JAMES (Pres.&CEO, P&C Operations)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2007-05-03 Common Stock M 35000 $23.98 Acquired 42744 Direct
2007-05-03 Common Stock M 25000 $29.15 Acquired 67744 Direct
2007-05-03 Common Stock M 5000 $24.14 Acquired 72744 Direct
2007-05-03 Common Stock M 22500 $24.69 Acquired 95244 Direct
2007-05-03 Common Stock M 22500 $26.27 Acquired 117744 Direct
2007-05-03 Common Stock S 110000 $47.00 Disposed 7744 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2007-05-03 Stock Option $23.98 M 35000 Disposed 2011-09-21 Common Stock (35000) Direct
2007-05-03 Stock Option $29.15 M 25000 Disposed 2012-05-08 Common Stock (25000) Direct
2007-05-03 Stock Option $24.14 M 5000 Disposed 2012-11-27 Common Stock (5000) Direct
2007-05-03 Stock Option $24.69 M 22500 Disposed 2013-05-07 Common Stock (22500) Direct
2007-05-03 Stock Option $26.27 M 22500 Disposed 2014-04-28 Common Stock (22500) Direct

Footnotes

F1: The option became exercisable in four equal annual installments beginning on September 21, 2002.

F2: The Reporting Person received the Derivative Security pursuant to a stock option grant at no cost.

F3: The option became exercisable in four equal annual installments beginning on May 8, 2003.

F4: The option became exercisable in four equal annual installments beginning on November 27, 2003.

F5: The option became exercisable in four equal annual installments beginning on May 7, 2004.

F6: The option became exercisable in four equal annual installments beginning on April 28, 2005.