Press Release

Great American Financial Resources, Inc. Announces its 2006 Second Quarter Conference Call and Webcast

CINCINNATI, July 25 /PRNewswire-FirstCall/ -- Great American Financial Resources, Inc. (NYSE: GFR) expects to release its 2006 second quarter results on Tuesday, August 1, 2006 after the market closes. The earnings release will be available shortly thereafter on GAFRI's website at http://www.gafri.com.

(LOGO: http://www.newscom.com/cgi-bin/prnh/20060725/CLTU092LOGO)

In conjunction with the earnings release, GAFRI's results will be discussed as part of a conference call being conducted by American Financial Group, Inc. (NYSE: AFG), GAFRI's majority shareholder. The call will be held at 10:00 a.m. EDT on Wednesday, August 2, 2006. There are two alternative communication modes available to listen to the call.

Over the Telephone

Telephone access will be available by dialing 1-866-713-8562 (International dial-in 617-597-5310). 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 approximately 12:00 p.m., and will run until 11:59 p.m. on August 9, 2006. To listen to the replay, dial 1- 888-286-8010 (International dial-in 617-801-6888) and provide the confirmation code 94881053.

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, http://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 Wednesday, August 9, 2006 at 11:59 p.m.

About GAFRI

GAFRI is a Cincinnati-based insurance holding company with nearly $12 billion in assets. The Company's subsidiaries include Great American Life Insurance Company, Annuity Investors Life Insurance Company, United Teacher Associates Insurance Company (headquartered in Austin, Texas) and Loyal American Life Insurance Company. Through these companies, GAFRI markets traditional fixed, indexed and variable annuities and a variety of supplemental insurance products.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 encourages corporations to provide investors with information about the Company's anticipated performance and provides protection from liability if future results are not the same as management's expectations. 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.

SOURCE Great American Financial Resources, Inc.

CONTACT: Mark F. Muething, Executive Vice President of Great American
Financial Resources, Inc., 1-513-333-5515
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Web site: http://www.gafri.com
http://www.afginc.com
(GFR AFG)