FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * LOWTHER JOHN R   2. Issuer Name and Ticker or Trading Symbol STATE AUTO FINANCIAL CORP [STFC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Senior Vice President (Last) (First) (Middle) 518 E. BROAD STREET 3. Date of Earliest Transaction (Month/Day/Year) 05/10/2005 (Street) COLUMBUS, OH 43215 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Shares without par value 06/10/2005   M   6,500 A $ 7.3125 60,275.445 (2) D   Common Shares without par value 06/10/2005   S   6,500 D $ 28.5 53,775.445 (2) D   Common Shares without par value 06/10/2005   M   6,500 A $ 7.3125 60,275.445 (2) I spouse Common Shares without par value 06/10/2005   S   500 D $ 28.5 59,775.445 (2) I spouse Common Shares without par value 06/10/2005   S   1,000 D $ 28.45 58,775.445 (2) I spouse Common Shares without par value 06/10/2005   S   2,000 D $ 28.43 56,775.445 (2) I spouse Common Shares without par value 06/10/2005   S   3,000 D $ 28.46 53,775.445 (2) I spouse

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (Right to Buy) NQ

$ 26.45

05/10/2005

A

V

14,500

05/10/2006(3)

05/09/2015

Common shares

14,500

$ 0 (1)

14,500

D

Employee Stock Option (Right to Buy) ISO

$ 7.3125

06/10/2005

M

6,500

08/15/1997

08/14/2006

Common Shares

6,500

$ 0 (1)

0

D

Employee Stock Option (Right to Buy) NQ

$ 7.3125

06/10/2005

M

6,500

08/15/1997

08/14/2006

Common Shares

6,500

$ 0 (1)

0

I

spouse

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
LOWTHER JOHN R 518 E. BROAD STREET COLUMBUS, OH 43215			Senior Vice President

Signatures

John R. Lowther		06/13/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	field should be left blank, but due to a software defect, requires input.
(2)	Includes indirect holdings by spouse of 14,224.000 shares. Also includes the following acquisitions: 18.681 shares acquired in March 2005 under the dividend reinvestment feature of the STFC Employee Stock Purchase Plan, and 0.405 shares acquired in March 2005 under the STFC Dividend Reinvestment Plan.
(3)	The options vest in three equal annual installments beginning on May 10, 2006.

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