AFG Announces Stock Program

American Financial Group Inc. announced a voluntary odd-lot program that will allow shareholders with fewer than 100 shares of common stock to either sell all of their shares or to purchase additional shares to increase their holdings to 100 shares.

The program will be in effect from Nov. 8, 2005 through Dec. 13, 2005, unless extended or earlier terminated by AFG. Information about the program will be mailed to eligible shareholders on or about Nov. 7, 2005.

Through the operations of the 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 retirement annuities, supplemental insurance and life products.