Press Release

American Financial Group, Inc. Names New Officers

CINCINNATI--(BUSINESS WIRE)--Jan. 14, 2008--American Financial Group, Inc. (NYSE:AFG)(NASDAQ:AFG) announced that three new officers have been named effective January 1, 2008. Karen Holley Horrell has been named Vice President and Scott H. Beeken and Michelle A. (Shelly) Gillis were each named Assistant Vice Presidents of the company.

Ms. Horrell joined American Financial's insurance operations in 1977 as Corporate Counsel, was promoted to Vice President in 1981 and was named Senior Vice President, General Counsel and Secretary of the property and casualty operations in 1985. In 1999, she became President of Corporate Services with responsibility for legal, human resources, real estate and facilities, communications, and risk management. She graduated from Berry College in Rome, Georgia and holds her law degree from Emory University in Atlanta.

Mr. Beeken has been with the company since 2002 and leads Human Resources programs primarily in the areas of benefits and compensation. Mr. Beeken graduated from Miami University, holds a law degree from Emory University and previously practiced as a Certified Public Accountant.

Ms. Gillis has been with the company since 2004 and leads Human Resources Talent Management programs including employment services, organizational development & planning, employee relations, education & development, and performance management. She received her undergraduate and masters degrees from the University of Cincinnati and also holds the Senior Professional in Human Resources designation.

About American Financial Group, Inc.

American Financial Group is an insurance holding company, based in Cincinnati, Ohio with assets in excess of $26 billion. Through the operations of 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. Great American Insurance Group's roots go back to 1872 with the founding of its flagship company, Great American Insurance Company.

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CONTACT: American Financial Group, Inc.
Anne N. Watson, Vice President - Investor Relations,
513-579-6652
Web Sites: www.afginc.com
www.GreatAmericanInsurance.com

SOURCE: American Financial Group, Inc.