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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 13F

       INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT
  TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER


         REPORT FOR THE CALENDAR YEAR OR QUARTER ENDED

                                 MARCH 31, 2002
- --------------------------------------------------------------------------------
                (PLEASE READ INSTRUCTIONS BEFORE PREPARING FORM.)
- --------------------------------------------------------------------------------

IF AMENDED REPORT CHECK HERE: |_|

Allstate Life Insurance Company
- --------------------------------------------------------------------------------
NAME OF INSTITUTIONAL INVESTMENT MANAGER

3075 Sanders Road, Suite G4A          Northbrook         Illinois     60062-7127
- --------------------------------------------------------------------------------
BUSINESS ADDRESS         (STREET)       (CITY)            (STATE)     (ZIP)

Doug Welch (847) 402-2170 Assistant Vice President, Investment Operation
- --------------------------------------------------------------------------------
NAME, PHONE NO., AND TITLE OF PERSON DULY AUTHORIZED TO SUBMIT THIS REPORT.

- ------------------------------------ATTENTION-----------------------------------
           INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE
                          FEDERAL CRIMINAL VIOLATIONS.
                    SEE 18 U.S.C. 1001 AND 15 U.S.C. 78FF(A).
- --------------------------------------------------------------------------------

     THE  INSTITUTIONAL   INVESTMENT   MANAGER  SUBMITTING  THIS  FORM  AND  ITS
ATTACHMENTS  AND THE  PERSON  BY WHOM IT IS  SIGNED  REPRESENT  HEREBY  THAT ALL
INFORMATION  CONTAINED THEREIN IS TRUE,  CORRECT AND COMPLETE.  IT IS UNDERSTOOD
THAT ALL REQUIRED ITEMS,  STATEMENTS AND SCHEDULES ARE CONSIDERED INTEGRAL PARTS
OF THIS  FORM AND THAT  THE  SUBMISSION  OF ANY  AMENDMENT  REPRESENTS  THAT ALL
UNAMENDED ITEMS,  STATEMENTS AND SCHEDULES REMAIN TRUE,  CORRECT AND COMPLETE AS
PREVIOUSLY SUBMITTED.

     PURSUANT  TO THE  REQUIREMENTS  OF  SECURITIES  EXCHANGE  ACT OF 1934,  THE
UNDERSIGNED INSTITUTIONAL INVESTMENT MANAGER HAS CAUSED THIS REPORT TO BE SIGNED
ON ITS BEHALF IN ON THE 9 DAY OF NOVEMBER, 2001.

                                       ALLSTATE LIFE INSURANCE CO
                                      ------------------------------------------
                                      (NAME OF INSTITUTIONAL INVESTMENT MANAGER)

                                      /s/ Michael K. Jacobsen
                                      ------------------------------------------
                                      (MANUAL    SIGNATURE    OF   PERSON   DULY
                                      AUTHORIZED TO SUBMIT THIS REPORT)

Report Type:

[X]      13F HOLDINGS REPORT.

[ ]      13F NOTICE.

[ ]      13F COMBINATION REPORT.

NAME AND 13F FILE NUMBERS OF ALL INSTITUTIONAL  INVESTMENT MANAGERS WITH RESPECT
TO WHICH THIS SCHEDULE IS FILED (OTHER THAN THE ONE FILING THIS  REPORT):  (LIST
IN ALPHABETICAL ORDER).

13F FILE NUMBERS WILL BE ASSIGNED TO  INSTITUTIONAL  INVESTMENT  MANAGERS  AFTER
THEY FILE THEIR FIRST REPORT.

NAME:                                                          13F FILE NO.:
- -------------------------------------------------------------- ---------------
1. ALLSTATE INSURANCE COMPANY                                     28-35
- -------------------------------------------------------------- ---------------
2.
- -------------------------------------------------------------- ---------------
3.
- -------------------------------------------------------------- ---------------
4.
- -------------------------------------------------------------- ---------------
5.
- -------------------------------------------------------------- ---------------

FORM 13F REPORT NAME OF REPORTING MANAGER: ALLSTATE LIFE INSURANCE COMPANY ITEM 6: ITEM 8: INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ------------ ---------------- (A) (B) (C) (A) (B) (C) S S O S H H T H ITEM 4: ITEM 5: S A A H S A N ITEM 3: FAIR SHARES OR O R R E O R O ITEM 1: ITEM 2: CUSIP MARKET PRINCIPAL L E E R ITEM 7: L E N NAME OF ISSUER TITLE CLASS NUMBER VALUE AMOUNT E D D MANAGERS E D E - ------------------------------------------------------------------------------------------------------------------------------------ AT & T COMMON STOCK 001957109 2,180,086 138,859 X 1 X AUTOMATIC DATA PROCESSING COMMON STOCK 053015103 728,375 12,500 X 1 X CHARTERED SEMICONDUCTOR ADS COMMON STOCK 16133R106 322,920 12,000 X 1 X COMCAST CLASS A SPECIAL COMMON STOCK 200300200 826,800 26,000 X 1 X EL PASO ENERGY CAPITAL TRUST I, 4.75%, NON-REDEEM P/S 283678209 2,062,250 36,500 X 1 X EQUITY RESIDENTIAL PROPERTIES SERIES G NON-REDEEM P/S 29476L859 2,546,000 100,000 X 1 X GENERAL MOTORS SERIES A REDEEMABLE P/S 370442741 2,126,400 80,000 X 1 X GENERAL MOTORS SERIES B REDEEMABLE P/S 370442733 11,615,250 425,000 X 1 X HCA INC COMMON STOCK 404119109 1,536,276 34,852 X 1 X MICRON TECH COMMON STOCK 595112103 263,200 8,000 X 1 X NEW VALLEY CORP. WARRANTS WARRANTS 649080116 2,688 16,800 X 1 X OMNICOM GROUP COMMON STOCK 681919106 1,510,400 16,000 X 1 X ROYAL BK SCOTLND REDEEMABLE P/S 780097804 845,790 33,000 X 1 X SEALED AIR CORP., $2.00, CONVERTIBLE NON-REDEEM P/S 81211K209 641,900 14,000 X 1 X SIMON PROPERTY GROUP 6.5% PFD B NON-REDEEM P/S 828806406 4,400,000 50,000 X 1 X SOVEREIGN BANCORP NON-REDEEM P/S 845905306 559,930 7,000 X 1 X

FORM 13F REPORT NAME OF REPORTING MANAGER: ALLSTATE LIFE INSURANCE COMPANY ITEM 6: ITEM 8: INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ------------ ---------------- (A) (B) (C) (A) (B) (C) S S O S H H T H ITEM 4: ITEM 5: S A A H S A N ITEM 3: FAIR SHARES OR O R R E O R O ITEM 1: ITEM 2: CUSIP MARKET PRINCIPAL L E E R ITEM 7: L E N NAME OF ISSUER TITLE CLASS NUMBER VALUE AMOUNT E D D MANAGERS E D E - ------------------------------------------------------------------------------------------------------------------------------------ ABGENIX INC DEBT 00339BAA5 1,393,125 1,500,000 X 1 X ADELPHIA COMM. DEBT 006848BG9 983,813 1,350,000 X 1 X AFFILIATED COMPUTER SVCS INC DEBT 008190AF7 3,005,625 2,100,000 X 1 X AGILENT TECH INC DEBT 00846UAA9 21,937,500 17,550,000 X 1 X ALLERGAN INC DEBT 018490AA0 6,205,875 10,050,000 X 1 X ALZA CORP DEBT 02261WAA7 604,969 675,000 X 1 X ALZA CORP. DEBT 02261WAB5 15,863,625 17,700,000 X 1 X AMDOCS LIMITED DEBT 02342TAB5 6,815,250 7,800,000 X 1 X AMERICA ONLINE DEBT 02364JAC8 23,475,938 44,190,000 X 1 X AMERICAN INTERNATIONAL GROUP DEBT 026874AN7 4,179,375 4,500,000 X 1 X AMER INTL GROUP DEBT 026874AP2 17,118,375 28,650,000 X 1 X AMGEN INC DEBT 031162AC4 12,690,000 18,000,000 X 1 X ANADARKO PETROLEUM CORP DEBT 032511AP2 6,880,500 9,900,000 X 1 X ANALOG DEVICES DEBT 032654AC9 2,234,306 2,355,000 X 1 X ANALOG DEVICES DEBT 032654AD7 28,149,413 29,670,000 X 1 X APOGENT TECH DEBT 03760AAD3 6,667,688 6,450,000 X 1 X AUTOMATIC DATA PROCESSING INC CONV DEBT 053015AC7 1,417,710 942,000 X 1 X AVIRON DEBT 053762AD2 912,375 900,000 X 1 X AVON PRODUCTS DEBT 054303AP7 9,558,000 17,700,000 X 1 X AXCELIS TECH DEBT 054540AA7 739,688 750,000 X 1 X BARNES & NOBLE DEBT 067774AD1 1,039,500 900,000 X 1 X BAXTER INTL. DEBT 071813AQ2 16,419,000 15,600,000 X 1 X BEA SYSTEMS DEBT 073325AD4 2,626,313 3,150,000 X 1 X BEST BUY DEBT 086516AC5 2,370,000 3,000,000 X 1 X BEST BUY DEBT 086516AE1 1,230,000 1,200,000 X 1 X BROCADE COM SYS DEBT 111621AA6 1,366,875 1,500,000 X 1 X BROOKS AUTOMATION DEBT 11434AAA8 1,280,813 1,350,000 X 1 X BURR-BROWN CORP DEBT 122574AF3 14,681,250 13,500,000 X 1 X CBRL GROUP INC DEBT 12489VAA4 2,394,405 5,850,000 X 1 X CSX CORP DEBT 126408GA5 11,840,063 13,950,000 X 1 X CALPINE CORP DEBT 131347AZ9 2,846,250 3,000,000 X 1 X CARNIVAL CORP DEBT 143658AM4 629,250 600,000 X 1 X CARNIVAL CORP DEBT 143658AN2 3,932,813 3,750,000 X 1 X CELESTICA INC DEBT 15101QAA6 2,212,125 5,100,000 X 1 X

FORM 13F REPORT NAME OF REPORTING MANAGER: ALLSTATE LIFE INSURANCE COMPANY ITEM 6: ITEM 8: INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ------------ ---------------- (A) (B) (C) (A) (B) (C) S S O S H H T H ITEM 4: ITEM 5: S A A H S A N ITEM 3: FAIR SHARES OR O R R E O R O ITEM 1: ITEM 2: CUSIP MARKET PRINCIPAL L E E R ITEM 7: L E N NAME OF ISSUER TITLE CLASS NUMBER VALUE AMOUNT E D D MANAGERS E D E - ------------------------------------------------------------------------------------------------------------------------------------ CENDANT CORP. DEBT 151313AE3 21,165,188 29,550,000 X 1 X CENDANT CORP DEBT 151313AF0 236,363 330,000 X 1 X CENDANT DEBT 151313AG8 11,985,000 12,000,000 X 1 X CEPHALON INC DEBT 156708AD1 2,325,000 2,400,000 X 1 X CHARLES RIVER DEBT 159863AK5 898,875 900,000 X 1 X CHARTER COMM. DEBT 16117MAB3 392,063 450,000 X 1 X CHARTER COMM DEBT 16117MAC1 816,375 1,050,000 X 1 X CHARTERED SEMICONDUCTOR DEBT 16133RAA4 3,053,547 3,000,000 X 1 X CHIRON CORP DEBT 170040AE9 9,945,000 18,000,000 X 1 X CITRIX SYSTEMS DEBT 177376AB6 1,245,000 3,000,000 X 1 X CLEAR CHANNEL COMM., INC., CONVERTIBLE DEBT 184502AB8 18,467,625 18,150,000 X 1 X CLEAR CHANNEL COMMUNICATIONS DEBT 184502AE2 8,116,500 8,400,000 X 1 X COMCAST DEBT 200300BH3 13,837,500 18,000,000 X 1 X COMPUTER ASSOC DEBT 204912AN9 3,435,000 3,000,000 X 1 X COMVERSE TECH. DEBT 205862AH8 1,944,375 2,550,000 X 1 X CORNING INC. DEBT 219350AJ4 16,528,125 32,250,000 X 1 X CORNING INC DEBT 219350AK1 9,272,813 9,450,000 X 1 X COSTCO DEBT 22160QAC6 9,604,800 10,440,000 X 1 X COX COMMUNICATIONS DEBT 224044AW7 3,508,988 8,430,000 X 1 X COX COMMUNICATION DEBT 224044AX5 7,828,125 18,750,000 X 1 X CYMER INC DEBT 232572AD9 1,241,625 1,050,000 X 1 X CYPRESS SEMICONDUCTOR DEBT 232806AE9 2,074,800 2,280,000 X 1 X DANAHER CORP. DEBT 235851AD4 5,118,750 7,800,000 X 1 X DANAHER DEBT 235851AF9 3,150,000 4,800,000 X 1 X DEVON ENERGY CORP DEBT 25179MAA1 4,655,813 4,650,000 X 1 X DEVON ENERGY CORP. DEBT 25179MAB9 6,331,500 6,300,000 X 1 X DEVON ENERGY CORP. DEBT 25179MAD5 5,230,875 11,100,000 X 1 X DIAMOND OFFSHORE DEBT 25271CAD4 15,491,288 16,770,000 X 1 X DIAMOND OFFSHORE DEBT 25271CAE2 3,464,063 3,750,000 X 1 X ECHOSTAR COMMUNICATIONS DEBT 278762AD1 1,083,000 1,200,000 X 1 X ECHOSTAR COMM DEBT 278762AG4 3,343,500 3,600,000 X 1 X EDO CORP DEBT 281347AC8 750,000 750,000 X 1 X EL PASO CORP. DEBT 28336LAC3 9,735,938 23,250,000 X 1 X ELAN FINANCE DEBT 284129AC7 5,543,250 11,400,000 X 1 X

FORM 13F REPORT NAME OF REPORTING MANAGER: ALLSTATE LIFE INSURANCE COMPANY ITEM 6: ITEM 8: INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ------------ ---------------- (A) (B) (C) (A) (B) (C) S S O S H H T H ITEM 4: ITEM 5: S A A H S A N ITEM 3: FAIR SHARES OR O R R E O R O ITEM 1: ITEM 2: CUSIP MARKET PRINCIPAL L E E R ITEM 7: L E N NAME OF ISSUER TITLE CLASS NUMBER VALUE AMOUNT E D D MANAGERS E D E - ------------------------------------------------------------------------------------------------------------------------------------ ELEC DATA SYSTEM DEBT 285661AB0 13,680,750 17,400,000 X 1 X EMULEX CORP DEBT 292475AA8 807,750 900,000 X 1 X ENZON INC DEBT 293904AB4 1,050,000 1,200,000 X 1 X EXTREME NETWORKS DEBT 30226DAA4 988,500 1,200,000 X 1 X FEI COMPANY DEBT 30241LAA7 927,000 900,000 X 1 X FAIRCHILD SEMI DEBT 303727AH4 1,837,500 1,500,000 X 1 X FIAT FIN LUX SA DEBT 31563NAA1 26,433,000 26,400,000 X 1 X FIRST DATA DEBT 319963AD6 8,108,438 6,750,000 X 1 X GATX CORP DEBT 361448AB9 3,472,500 3,000,000 X 1 X GAP INC DEBT 364760AH1 868,125 750,000 X 1 X GENZYME CORP DEBT 372917AJ3 1,415,625 1,500,000 X 1 X GILEAD SCIENCES DEBT 375558AB9 984,000 600,000 X 1 X GOLDMAN SACHS / WELLS FARGO DEBT 38141GAB0 2,928,750 3,000,000 X 1 X HEWLETT PACKARD CO CONV DEBT 428236AC7 7,275,000 15,000,000 X 1 X HILTON HOTELS CORP CONV DEBT 432848AL3 1,279,125 1,350,000 X 1 X HUMAN GENOME DEBT 444903AF5 2,040,000 2,550,000 X 1 X ICN PHARMACEUTICALS DEBT 448924AK6 2,011,500 1,800,000 X 1 X IDEC PHARMACEUT DEBT 449370AC9 1,607,456 615,000 X 1 X INTERNATIONAL PAPER DEBT 460146BL6 17,017,688 33,450,000 X 1 X INTL PAPER CO DEBT 460146BM4 4,731,375 9,300,000 X 1 X INTERNATIONAL RECTIFIER CORP DEBT 460254AD7 833,625 900,000 X 1 X INTL RECTIFIER DEBT 460254AE5 1,389,375 1,500,000 X 1 X INTERPUBLIC GROUP DEBT 460690AJ9 8,649,375 10,500,000 X 1 X INTERPUBLIC GRP DEBT 460690AP5 14,312,813 15,750,000 X 1 X INVITROGEN CORP DEBT 46185RAB6 718,781 825,000 X 1 X INVITROGEN INC DEBT 46185RAC4 2,887,500 3,750,000 X 1 X IVAX DEBT 465823AE2 2,046,375 2,550,000 X 1 X IVAX CORP DEBT 465823AG7 4,815,000 6,000,000 X 1 X JMH FINANCE LIMITED DEBT 46621WAA9 7,969,500 8,400,000 X 1 X JABIL CIRCUIT DEBT 466313AA1 570,000 600,000 X 1 X JONES APPAREL DEBT 480081AD0 12,575,250 24,300,000 X 1 X JUNIPER NETWORKS DEBT 48203RAA2 1,337,640 1,884,000 X 1 X KERR-MCGEE DEBT 492386AP2 9,654,375 8,130,000 X 1 X LSI LOGIC DEBT 502161AE2 2,061,000 2,400,000 X 1 X

FORM 13F REPORT NAME OF REPORTING MANAGER: ALLSTATE LIFE INSURANCE COMPANY ITEM 6: ITEM 8: INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ------------ ---------------- (A) (B) (C) (A) (B) (C) S S O S H H T H ITEM 4: ITEM 5: S A A H S A N ITEM 3: FAIR SHARES OR O R R E O R O ITEM 1: ITEM 2: CUSIP MARKET PRINCIPAL L E E R ITEM 7: L E N NAME OF ISSUER TITLE CLASS NUMBER VALUE AMOUNT E D D MANAGERS E D E - ------------------------------------------------------------------------------------------------------------------------------------ LSI LOGIC DEBT 502161AF9 2,895,000 3,000,000 X 1 X LTX CORP DEBT 502392AE3 1,395,000 1,200,000 X 1 X L-3 COMM HLDGS DEBT 502424AC8 2,308,313 1,950,000 X 1 X LABORATORY CORP OF AMERICA DEBT 50540RAB8 12,109,500 16,200,000 X 1 X LAM RESEARCH DEBT 512807AD0 1,185,000 1,200,000 X 1 X LATTICE SEMICOND DEBT 518415AC8 1,458,844 1,365,000 X 1 X LEGG MASON DEBT 524901AE5 4,437,750 9,150,000 X 1 X LEGG MASON INC DEBT 524901AG0 2,910,000 6,000,000 X 1 X LIBERTY MEDIA / AT&T CORP DEBT 530715AG6 5,772,000 11,100,000 X 1 X LIBERTY MEDIA DEBT 530715AK7 2,115,000 4,500,000 X 1 X LIBERTY MEDIA DEBT 530715AL5 1,128,000 2,400,000 X 1 X LIBERTY MEDIA DEBT 530715AM3 8,748,000 12,150,000 X 1 X LIBERTY MEDIA DEBT 530715AP6 13,546,500 13,200,000 X 1 X LOWES COMPANIES DEBT 548661CD7 10,439,850 13,215,000 X 1 X LOWES COMPANIES DEBT 548661CF2 5,925,000 7,500,000 X 1 X MAGNA INTL INC DEBT 559222AG9 7,227,750 6,900,000 X 1 X MEDAREX DEBT 583916AA9 1,038,000 1,200,000 X 1 X MEDIACOM COMM. DEBT 58446KAA3 894,375 900,000 X 1 X MEDTRONIC DEBT 585055AA4 29,232,000 28,800,000 X 1 X MEDTRONIC INC DEBT 585055AB2 3,045,000 3,000,000 X 1 X MERCURY INTERACTIVE DEBT 589405AB5 1,423,125 1,725,000 X 1 X MERRILL LYNCH DEBT 590188A65 15,016,500 28,200,000 X 1 X MERRILL LYNCH DEBT 590188A73 24,922,800 24,000,000 X 1 X MIRANT DEBT 604675AA6 2,415,000 3,000,000 X 1 X MIRANT CORP DEBT 604675AB4 4,226,250 5,250,000 X 1 X MORGAN STANLEY DEBT 617446GR4 3,960,000 4,500,000 X 1 X NABORS DEBT 629568AE6 3,907,313 6,825,000 X 1 X NABORS DEBT 629568AF3 12,537,750 21,900,000 X 1 X NAVISTAR FINL CP DEBT 638902AL0 1,090,688 1,050,000 X 1 X NETWORKS ASSOCIATES DEBT 64123LAA9 922,500 600,000 X 1 X NETWORK ASSOC DEBT 64123LAB7 922,500 600,000 X 1 X NEWS AMERICA DEBT 652482AY6 5,725,688 12,150,000 X 1 X NORTEL NETWORKS DEBT 656568AA0 9,200,250 13,050,000 X 1 X NOVELLUS SYSTEMS DEBT 670008AA9 11,313,000 10,800,000 X 1 X

FORM 13F REPORT NAME OF REPORTING MANAGER: ALLSTATE LIFE INSURANCE COMPANY ITEM 6: ITEM 8: INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ------------ ---------------- (A) (B) (C) (A) (B) (C) S S O S H H T H ITEM 4: ITEM 5: S A A H S A N ITEM 3: FAIR SHARES OR O R R E O R O ITEM 1: ITEM 2: CUSIP MARKET PRINCIPAL L E E R ITEM 7: L E N NAME OF ISSUER TITLE CLASS NUMBER VALUE AMOUNT E D D MANAGERS E D E - ------------------------------------------------------------------------------------------------------------------------------------ NVIDIA CORP DEBT 67066GAA2 1,273,125 1,050,000 X 1 X OSI PHARMACEUTIC DEBT 671040AA1 1,206,000 1,200,000 X 1 X OFFSHORE LOGISTICS INC DEBT 676255AF9 1,032,300 930,000 X 1 X OHIO CASUALTY DEBT 677240AB9 3,213,750 3,000,000 X 1 X OMNICOM GROUP DEBT 681919AH9 4,017,000 3,900,000 X 1 X PMC-SIERRA INC DEBT 69344FAB2 1,205,625 1,500,000 X 1 X PMI GROUP DEBT 69344MAC5 5,748,750 5,250,000 X 1 X PENNEY (JC) CO DEBT 708160BU9 1,538,625 1,650,000 X 1 X PERFORMANCE FOOD DEBT 713755AA4 1,275,750 1,050,000 X 1 X PERKINELMER INC DEBT 714046AA7 10,901,100 21,480,000 X 1 X PROVINCE HEALTHC DEBT 743977AD2 1,882,031 1,875,000 X 1 X RF MICRO DEVICES DEBT 749941AB6 827,531 975,000 X 1 X RADIAN GROUP DEBT 750236AE1 4,809,375 4,500,000 X 1 X RATIONAL SOFTWARE DEBT 75409PAC7 1,624,219 1,875,000 X 1 X REEBOK DEBT 758110AD2 7,132,875 6,900,000 X 1 X ROBBINS & MYERS INC CONV DEBT 770196AA1 795,938 750,000 X 1 X ROCHE HLDGS/GENENTECH DEBT 771196AG7 22,854,281 32,475,000 X 1 X SCI SYSTEMS INC DEBT 783890AF3 8,408,250 11,100,000 X 1 X SPX CORP. DEBT 784635AC8 2,268,750 3,000,000 X 1 X SPDR EXCHANGE TRUST DEBT 78463LAA7 146,157,000 150,000,000 X 1 X SANMINA CORP DEBT 800907AB3 977,813 1,050,000 X 1 X SANMINA DEBT 800907AD9 1,452,225 4,020,000 X 1 X SEMTECH CORP. DEBT 816850AD3 1,808,813 1,650,000 X 1 X SHAW GROUP DEBT 820280AA3 905,438 1,650,000 X 1 X SHAW GROUP DEBT 820280AC9 6,502,688 11,850,000 X 1 X SIEBEL SYSTEMS DEBT 826170AC6 1,130,625 750,000 X 1 X SOLECTRON CORP DEBT 834182AK3 4,237,500 7,500,000 X 1 X SOLECTRON DEBT 834182AL1 2,434,688 5,250,000 X 1 X STARWOOD HOTELS DEBT 85590AAA2 2,807,438 3,450,000 X 1 X SYMANTEC CORP DEBT 871503AA6 1,459,500 1,050,000 X 1 X TJX COMPANIES DEBT 872540AL3 7,507,500 9,750,000 X 1 X TEVA PHARMACEUTICAL DEBT 88163VAA7 5,621,625 5,700,000 X 1 X TEVA PHARMACEUT DEBT 88163VAB5 2,071,125 2,100,000 X 1 X TEVA PHARMACEUTICAL DEBT 88163XAA3 5,835,375 6,300,000 X 1 X

FORM 13F REPORT NAME OF REPORTING MANAGER: ALLSTATE LIFE INSURANCE COMPANY ITEM 6: ITEM 8: INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ------------ ---------------- (A) (B) (C) (A) (B) (C) S S O S H H T H ITEM 4: ITEM 5: S A A H S A N ITEM 3: FAIR SHARES OR O R R E O R O ITEM 1: ITEM 2: CUSIP MARKET PRINCIPAL L E E R ITEM 7: L E N NAME OF ISSUER TITLE CLASS NUMBER VALUE AMOUNT E D D MANAGERS E D E - ------------------------------------------------------------------------------------------------------------------------------------ THERMO INSTR SYS INC., CONVERTIBLE DEBT 883556AH5 9,804,375 10,500,000 X 1 X TRANSOCEAN SEDCO FOREX DEBT 893830AD1 15,507,750 17,400,000 X 1 X TYCO INTL GROUP DEBT 902118AW8 30,814,875 44,100,000 X 1 X TYCO INT'L DEBT 902124AC0 33,126,188 49,350,000 X 1 X US BANCORP DEBT 902973AC0 13,410,000 18,000,000 X 1 X UNITED PARCEL DEBT 911312AB2 9,404,625 9,300,000 X 1 X UNIV HEALTH SVCS DEBT 913903AL4 9,657,000 17,400,000 X 1 X FOOT LOCKER INC DEBT 922944AB9 901,875 750,000 X 1 X VERITAS SOFTWARE DEBT 92343RAA1 1,444,219 1,125,000 X 1 X VERIZON GLOBAL DEBT 92344GAP1 34,948,875 65,325,000 X 1 X VISHAY DEBT 928298AC2 1,966,500 3,600,000 X 1 X VITESSE SEMICOND DEBT 928497AB2 820,313 1,050,000 X 1 X WEATHERFORD INTERNATIONAL DEBT 947074AA8 2,693,250 4,200,000 X 1 X WEATHERFORD INT'L DEBT 947074AB6 3,751,313 5,850,000 X 1 X WEBMD CORP DEBT 94769MAA3 1,018,500 1,050,000 X 1 X WIND RIVER SYSTM DEBT 973149AD9 658,125 750,000 X 1 X XL CAPITAL DEBT 98372PAC2 4,221,188 7,050,000 X 1 X XL CAPITAL LTD DEBT 98372PAD0 12,034,875 20,100,000 X 1 X XEROX DEBT 984121BB8 1,680,000 3,000,000 X 1 X