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AMERICAN ANNUITY GROUP, INC. FILES REGISTRATION STATEMENT FOR SENIOR NOTES

 CINCINNATI, June 18 /PRNewswire/ -- American Annuity Group, Inc. (NYSE: AAG) announced today that it has filed a Registration Statement with the Securities and Exchange Commission for $85 million principal amount of fixed rate senior notes due 2001. Donaldson, Lufkin & Jenrette Securities Corporation is lead underwriter and Bear, Stearns & Co. Inc. is co-underwriter. The proceeds of the offering will be used primarily to reduce bank borrowings incurred in connection with American Annuity Group's acquisition of Great American Life Insurance Company and for working capital purposes.
 A Registration Statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective.
 This communication shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Preliminary prospectuses will be available from Donaldson, Lufkin & Jenrette at 140 Broadway, New York, N. Y. 10005.
 American Annuity Group is an 82 percent owned subsidiary of American Financial Corporation. Through its subsidiary Great American Life Insurance Company, American Annuity is engaged in the sale of tax- deferred annuities to teachers and other employees of not-for-profit institutions.
 -0- 6/18/93
 /CONTACT: Sandra W. Heimann of the American Financial Corporation, 513-579-2121/
 (AAG)


CO: American Annuity Group; American Financial Corporation ST: Ohio IN: FIN SU: OFR

KL -- CL010 -- 3565 06/18/93 12:24 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
Words:270
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