Press Release

American Financial Group, Inc. Announces Its 2006 Third Quarter Conference Call and Webcast

CINCINNATI, Oct. 16 /PRNewswire-FirstCall/ -- American Financial Group, Inc. (Nasdaq: AFG; NYSE) expects to release its 2006 third quarter results after the market closes on Monday, November 6, 2006. The earnings release will be available shortly thereafter on AFG's website at http://www.afginc.com.

(Logo: http://www.newscom.com/cgi-bin/prnh/20041208/CLW086LOGO)

In conjunction with its earnings release, AFG will hold a conference call to discuss 2006 third quarter results at 11:30 a.m. EST on Tuesday, November 7, 2006. There are two alternative communication modes available to listen to the call.

Over the Telephone

Telephone access will be available by dialing 1-800-901-5226 (international dial-in 617-786-4513). 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 1:30 p.m. and will remain available until 11:59 p.m. on November 14, 2006. To listen to the replay, dial 1-888-286-8010 (international dial-in 617-801-6888) and provide the confirmation code 46474092.

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 on AFG's website after the call until November 13, 2006 at 11:59 p.m.

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 American Financial Group, Inc.

CONTACT: Investor Relations of American Financial Group, Inc.,
1-513-579-6739, or AFGInvestorRelations@gaic.com
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Web site: http://www.afginc.com
(AFG)