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AMERICAN GENERAL INVESTMENT CORPORATION ANNOUNCES VERDICT IN COURT CASE

 HOUSTON, May 24 /PRNewswire/ -- American General Investment Corporation Friday announced that a Houston jury has reached a verdict of $47.3 million in compensatory damages and $262.6 million in punitive damages against it and a related subsidiary company in a case brought in Texas state district court by Avia Development Group.
 In commenting on the verdict, D. Gibson Walton, a partner with Vinson & Elkins, who represented American General Investment Corporation in the trial, said, "Although I am personally shocked by the jury's verdict, we remain confident that justice will ultimately be done in this case. No judgment has been signed by the court, and the court will have to rule on several important legal issues before the judgment is entered. This is just round one, and we are optimistic that any adverse judgment will be overturned on appeal."
 American General Investment Corporation is a real estate subsidiary of Houston-based American General Corporation (NYSE: AGC).
 -0- 5/24/93
 /CONTACT: John E. Pluhowski, 713-831-1149 or Robert D. Mrlik, 713-831-1137, both of American General Investment Corporation/
 (AGC)


CO: American General Investment Corporation ST: Texas IN: FIN SU:

SM -- NY027 -- 1580 05/24/93 10:01 EDT
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Publication:PR Newswire
Date:May 24, 1993
Words:195
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