American Financial Group, Inc. Declares Quarterly Dividend

January 2, 2007

CINCINNATI--(BUSINESS WIRE)--Jan. 2, 2007--American Financial Group, Inc. (NYSE:AFG)(NASDAQ:AFG) announced that its Board of Directors declared a quarterly dividend of $0.10 per share of American Financial Group Common Stock. The dividend, declared as of January 1, 2007, is payable on January 25, 2007 to holders of record on January 15, 2007.

This dividend reflects the Company's 3-for-2 stock split which was effective December 15, 2006. As previously announced, the Board of Directors approved an increase in the Company's dividend during the fourth quarter of 2006. This new dividend rate represents a 9 percent increase over each quarterly dividend paid in 2006.

Through the operations of the Great American Insurance Group, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of traditional fixed, indexed and variable annuities and a variety of supplemental insurance products.

CONTACT: American Financial Group, Inc.
Anne N. Watson, 513-579-6652
Vice President - Investor Relations
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SOURCE: American Financial Group, Inc.