Press Release

American Financial Group Inc. Announces its 2003 Fourth Quarter Conference Call and Webcast

CINCINNATI, Feb 5, 2004 /PRNewswire-FirstCall via COMTEX/ -- American Financial Group, Inc. (NYSE: AFG) expects to release its 2003 fourth quarter and full year results on Thursday, February 12, 2004 before 9:30am ET. The earnings release will be available shortly thereafter on AFG's website at http://www.amfnl.com .

In conjunction with its earnings release, AFG will hold a conference call to discuss 2003 results at 11:30 am ET that day. There are two alternative communication modes available to listen to the call.

Over the Telephone

Telephone access will be available by dialing 1-800-946-0782. 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 2:30 p.m. and will run until 8:00 p.m. on February 19, 2004. To listen to the replay, dial 1-888-203-1112 and provide the confirmation code 700193.

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.amfnl.com , and follow the instructions at the Webcast link. The archived webcast will be available immediately after the call on AFG's website until Thursday, February 19, 2004 at 11:59 pm.

(Minimum Requirements to listen to broadcast: The Windows Media Player software, downloadable free from http://www.microsoft.com/windows/windowsmedia/EN/default.asp and at least a 28.8Kbps connection to the Internet. If you experience problems listening to the broadcast, send an email to webcastsupport@tfprn.com .)

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 appear in the press release.

SOURCE American Financial Group, Inc.

Peggy Bepler, Investor Relations of American Financial
Group, Inc., +1-513-579-6739, or pbepler@gaic.com
http://www.amfnl.com