Press Release

American Financial Group, Inc. Announces Its 2007 Fourth Quarter and Full Year Conference Call and Webcast and Its Participation in the Merrill Lynch Insurance Investors Conference

CINCINNATI--(BUSINESS WIRE)--Jan. 22, 2008--American Financial Group, Inc. (NYSE:AFG)(NASDAQ:AFG) expects to release its 2007 fourth quarter and full year results before the market opens on Monday, February 11, 2008. The earnings release will be available shortly thereafter on AFG's website at http://www.afginc.com.

In conjunction with its earnings release, AFG will hold a conference call to discuss 2007 fourth quarter and full year results at 2:00 pm EST the same day, Monday, February 11. There are two alternative communication modes available to listen to the call.

Over the Telephone

Telephone access will be available by dialing 1-800-638-5495 (international dial-in 617-614-3946). Please dial in 5 to 10 minutes prior to the scheduled start time. A replay of the call will also be available two hours following the completion of the call, at around 4:00 p.m. and will run until 11:59 p.m. on February 18, 2008. To listen to the replay, dial 1-888-286-8010 (international dial-in 617-801-6888) and provide the confirmation code 79964090.

Live on the Internet

The conference call will also be broadcast live over the Internet. To listen to the call via the Internet, go to AFG's website, www.afginc.com, and follow the instructions at the Webcast link in the Investor Relations section. The archived webcast will be available immediately after the call on AFG's website until February 18, 2008 at 11:59 pm.

Merrill Lynch Insurance Investors Conference

AFG also announced that Carl H. Lindner III, Co-Chief Executive Officer, and Keith A. Jensen, Senior Vice President and chief financial officer, will make a company presentation at the Merrill Lynch Insurance Investors Conference being held at Merrill Lynch's 250 Vesey Street headquarters in New York City, on Tuesday, February 12, 2008 at 2:55 pm.

Their presentation will be broadcast live over the Internet via the Webcast link below within the Investor Relations section of AFG's website, www.afginc.com.

http://www.veracast.com/webcasts/ml/insurance08/58113117.cfm

A replay of the broadcast will be available for 14 days at the same website approximately 24 hours after the presentation.

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 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. Great American Insurance Group's roots go back to 1872 with the founding of its flagship company, Great American Insurance Company.

Certain statements may be made on the conference call that may be considered "forward- looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from any predictions that may be made. Additional information regarding factors that could cause such differences appears in the press release.

CONTACT: American Financial Group, Inc.
Investor Relations, 513-579-6739
AFGInvestorRelations@gaic.com

SOURCE: American Financial Group, Inc.