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AMERICAN GENERAL FINANCE, INC., CONTINUES EARNINGS GROWTH

 AMERICAN GENERAL FINANCE, INC., CONTINUES EARNINGS GROWTH
 EVANSVILLE, Ind., April 24 /PRNewswire/ -- American General Finance, Inc., today reported that first quarter net income was 18 percent ahead of the pace set last year. Net income for the quarter was $36.0 million compared to $30.5 million in the first quarter of 1991.
 President and CEO Daniel Leitch III attributed the strong operating results to the fact that the company provides financial services to individual lenders and has avoided problems with commercial lending and real estate development. Unlike many banks and S&L's with extensive loans to commercial enterprises, American General Finance lends money primarily to everyday people for basic everyday needs. Consumer lending is a more stable business.
 Leitch expects that new products and increased marketing and advertising efforts will contribute to continued growth in 1992 in spite of weak economic conditions. In addition, the company is well poised to participate in the acquisition of consumer loan receivables from other financial institutions.
 The company's investment note series outstanding (Series D, E, and F), have recently been upgraded to A+ from A by Fitch Investors Service Inc. The company offers retail investment notes to the public through its Evansville, Ind., headquarters. The upgrade reflects the company's solid performance and the strong capacity for support from our parent, American General Corporation (NYSE: AGC).
 American General Finance, Inc., is a financial services holding company specializing in the extension of credit to individual consumers. Products and services are marketed to more than 1.5 million middle income Americans. The company, headquartered in Evansville, Ind., has assets of $6.8 billion and operates more than 1,100 branch offices in 41 states, Puerto Rico, and the Virgin Islands. Services offered include consumer and home equity loans; indirect retail financing; credit cards; and life, health, and property insurance.
 -0- 4/24/92
 /CONTACT: Philip M. Hanley, chief financial officer of American General Finance, Inc., 812-468-5420/
 (AGC) CO: American General Finance ST: Indiana IN: FIN SU: ERN


SM -- CL010 -- 2578 04/24/92 14:55 EDT
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Publication:PR Newswire
Date:Apr 24, 1992
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