Press Release

American Financial Group, Inc. Declares Quarterly Dividend

CINCINNATI, Oct 01, 2010 (BUSINESS WIRE) -- American Financial Group, Inc. (NYSE:AFG) (NASDAQ:AFG) announced that it has declared a quarterly dividend of $0.1625 per share of American Financial Group Common Stock. The dividend is payable on October 25, 2010 to holders of record on October 15, 2010. As previously announced, the Board of Directors approved an increase in the company's dividend during the third quarter of 2010. This new dividend rate represents an 18% increase over the annual rate paid thus far in 2010.

About American Financial Group, Inc.

American Financial Group is an insurance holding company, based in Cincinnati, Ohio with assets in excess of $30 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.

SOURCE: American Financial Group, Inc.

American Financial Group, Inc.
Diane P. Weidner, Asst. Vice President - Investor Relations, 513-369-5713
Web Sites:
http://www.AFGinc.com
http://www.GreatAmericanInsurance.com
http://www.GAFRI.com