American General Elects Morris J. Kramer Director.

Business Editors

HOUSTON--(BUSINESS WIRE)--Nov. 7, 2000

American General (NYSE:AGC) today announced the election of Morris J. Kramer to the company's board of directors, increasing the board to 12 members.

Mr. Kramer is partner at the law firm of Skadden, Arps, Slate, Meagher & Flom LLP. The New York City-based firm is one of the largest law firms in the world providing a broad range of legal services to government, industrial, financial and corporate clients.

Kramer specializes in domestic and international mergers and acquisitions, corporate governance, and has been involved in many of the largest, most publicized transactions completed over the past 20 years. He also advises shareholders, boards of directors, and management teams in leveraged and management buyouts, proxy contests and other corporate control transactions.

In commenting on the announcement, Robert M. Devlin, chairman and CEO, said, "Morris Kramer is one of the most recognized and respected legal advisors in our country today. He is a long-time trusted advisor to American General and his strategic acumen and in-depth knowledge of the financial services industry will greatly benefit our organization. We look forward to Morris' sound counsel as we position American General for future growth and opportunity in a rapidly evolving industry."

Kramer, 58, a native of Brooklyn, N.Y., received his A.B. degree from Dartmouth College in 1963 and his LL.B. degree from Harvard University in 1966.

American General is one of the nation's largest diversified financial services organizations with assets of $123 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.