Press Release

John B. Berding Named President of American Money Management Corporation, a Subsidiary of American Financial Group, Inc.

CINCINNATI, Jan 26, 2011 (BUSINESS WIRE) -- American Financial Group, Inc. (NYSE: AFG) (NASDAQ: AFG) announced that John B. Berding has been named President of its American Money Management Corporation subsidiary ("AMMC"). AMMC was formed in 1973 and provides investment management services to American Financial, its insurance subsidiaries and certain third party investment entities. Mr. Berding succeeds S. Craig Lindner, who has served in that position for over 15 years. Mr. Lindner is Co-Chief Executive Officer of AFG and will assume the newly-created position of Chairman of the Board of AMMC.

Mr. Berding joined AMMC as an Investment Analyst upon graduating from the University of Chicago with a Masters in Business Administration in 1987. He previously worked for American Financial as a co-op student at the University of Cincinnati, where he earned a Bachelors in Business Administration degree in 1985. He has held a number of investment-related executive positions with AMMC and other AFG subsidiaries, most recently serving as Executive Vice President of AMMC. Mr. Berding has spent his entire career with AFG and its subsidiaries.

In making the announcement, Craig Lindner noted that, "John has been a trusted business advisor for almost 25 years, and his talents have been particularly valuable during the last several years as we successfully navigated through unprecedented turmoil in the financial markets. We look forward to John serving in this important position, and are confident that he will continue to contribute significantly to AFG's successes."

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

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SOURCE: American Financial Group, Inc.

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