Great American Financial Resources, Inc. Announces Its 2006 Fourth Quarter and Full Year Conference Call and Webcast and Participation in the Merrill Lynch Insurance Investors Conference.

CINCINNATI -- Great American Financial Resources, Inc. ("GAFRI") (NYSE:GFR) expects to release its 2006 fourth quarter and full year results before the market opens on Monday, February 12. The earnings release will be available shortly thereafter on GAFRI's Web site at www.gafri.com.

In conjunction with the earnings release, GAFRI's results will be discussed as part of a conference call to discuss 2006 fourth quarter and full year results being conducted by American Financial Group, Inc. (NYSE:AFG), GAFRI's majority shareholder. The call will be held at 2:00 p.m. EST on Monday, February 12. There are two alternative communication modes available to listen to the call.

Over the Telephone

Telephone access will be available by dialing 1-800-901-5231 (international dial-in 617-786-2961). 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 around 4:00 p.m. and will run until 11:59 p.m. on February 19, 2007. To listen to the replay, dial 1-888-286-8010 (international dial-in 617-801-6888) and provide the confirmation code 54541519.

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 Web site, www.afginc.com, and follow the instructions at the Webcast link in the Investor Relations section. The archived webcast will be available immediately after the call on AFG's Web site until February 19, 2007 at 11:59 p.m.

Merrill Lynch Insurance Investors Conference

GAFRI also announced that information regarding the Company will be included in a presentation being made by S. Craig Lindner, Co-Chief Executive Officer, and Keith A. Jensen, Senior Vice President and Chief Financial Officer of AFG at the Merrill Lynch Insurance Investors Conference being held at the Millennium Broadway Hotel, 145 West 44th Street, New York City, on Tuesday, February 13, 2007 at 2:00 p.m.

Their presentation will be broadcast live over the Internet via the webcast link below within the Investor Relations section of AFG's Web site, www.afginc.com.

http://www.veracast.com/webcasts/ml/insurance07/22109157.cfm

A replay of the broadcast will be available for 14 days at the same Web site beginning approximately 24 hours after the presentation.

About GAFRI

GAFRI is a Cincinnati-based insurance holding company with nearly $13 billion in assets. The Company's subsidiaries include Great American Life Insurance Company, Annuity Investors Life Insurance Company, Central Reserve Life Insurance Company, Continental General Insurance Company, United Teacher Associates Insurance Company and Loyal American Life Insurance Company. Through these companies, GAFRI markets traditional fixed, indexed and variable annuities and a variety of supplemental insurance products.

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.