American Financial Group, Inc. Declares Quarterly Dividend

July 3, 2006

CINCINNATI, July 3 /PRNewswire-FirstCall/ -- American Financial Group, Inc. (NYSE: AFG; Nasdaq) announced that as of July 1, 2006, it declared a quarterly dividend of $0.13-3/4 per share of American Financial Group Common Stock. The dividend is payable on July 25, 2006, to holders of record on July 14, 2006.

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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 retirement annuities and supplemental insurance products.

SOURCE American Financial Group, Inc.

CONTACT: Anne N. Watson, Vice President - Investor Relations of American
Financial Group, Inc., 1-513-579-6652
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