American General Announces Enterprisewide Senior Management Appointments.

Business Editors

HOUSTON--(BUSINESS WIRE)--Oct. 6, 2000

American General (NYSE:AGC) today announced three enterprisewide senior management appointments that further expand its shared services platform throughout the organization. John V. LaGrasse has been named executive vice president and chief technology officer, Jon P. Newton has been named vice chairman - external affairs, and Gary D. Reddick has been named executive vice president - administration and insurance operations.

In commenting on the announcement, Robert M. Devlin, chairman and chief executive officer, said, "This action underscores our commitment to increasing American General's market responsiveness and operating efficiency while strengthening our competitive position through the implementation of a shared services strategy. These moves reflect a continuing commitment to optimizing our technological and human resources in support of our growth and performance objectives. Each of these individuals will play an important role in continuing to transform American General into one of the most efficient, customer-responsive providers of financial solutions and services."

LaGrasse, who most recently served as executive vice president - information technology of American General's life insurance division, will now have the added responsibility of directly managing information technology for the entire organization. He will also be responsible for implementing American General's e-business strategy. LaGrasse will report to John A. Graf, vice chairman and group executive - retirement services. Since joining American General in 1996, LaGrasse, 50, has held a number of senior management positions, including senior vice president and chief systems officer - information technology for American General Life Insurance Company. He began his 30-year information technology career with Procter & Gamble, where he served as a systems analyst and systems manager. LaGrasse received his B.S. degree in computer science from the University of Missouri in 1970. He is a Fellow, Life Management Institute (FLMI) and a Certified Systems Professional (CSP).

Newton, as vice chairman - external affairs, will move to American General's Washington, D.C. office. Newton, 59, joined American General in 1993 as senior vice president and general counsel. Prior to joining the company, he was a partner in the Austin law firm of Clark, Thomas, Winters, & Newton. He received his B.A. degree in pre-law from The University of Texas in 1963, and his L.L.B. from The University of Texas School of Law in 1965. Newton completed the Advanced Management Program at the Harvard University Graduate School of Business in 1995. He is a member of the State Bar of Texas.

Reddick, who has served as executive vice president and chief administrative officer - corporate operations since December 1999, will assume the added responsibilities of administration and insurance operations for American General's life insurance division. He will report to Rodney O. Martin, Jr., vice chairman and group executive - life insurance, and will continue to direct American General's human resources, corporate relations, and facilities management operations. Reddick, 49, joined American General in 1986 and served in a variety of senior management positions including senior vice president - insurance administration and services. He began his financial services industry career with the Florida Farm Bureau Life Insurance Company. Reddick received his B.B.A. degree in finance from Stetson University in 1972. He is a Chartered Life Underwriter (CLU) and a Fellow, Life Management Institute (FLMI).

American General is one of the nation's largest diversified services organizations with assets of $121 billion and market capitalization of $20 billion. Headquartered in Houston, it is a leading provider of retirement services, investments, life insurance, and consumer loans to 12 million customers. American General common stock is listed on the New York, Pacific, London, and Swiss stock exchanges.