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AMERICAN GENERAL FINANCE, INC. REPORTS RECORD 1ST QUARTER EARNINGS IN 1993

 EVANSVILLE, Ind., April 28 /PRNewswire/ -- American General Finance, Inc. (NYSE: AGC) today announced record first quarter operating earnings of $48.1 million, before a one-time accounting charge of $11.5 million, resulting from the required adoption of two accounting standards. This represents a 36 percent increase compared to first quarter operating earnings of $35.4 million in 1992.
 In commenting on the results, Daniel Leitch III, president and chief executive officer, said "The financial results reflect our consistent focus on the domestic consumer market. Growth in operating earnings was the result of the improvement in all aspects of our business including receivables growth, yield improvement, increased insurance revenue, and improved credit quality."
 AMERICAN GENERAL FINANCE INC.
 Financial Highlights
 (In thousands of dollars)
 Periods ended March 31 Quarter ended
 1993 1992
 Total revenues $310,915 $286,463
 Operating earnings 48,097 35,414
 Realized investment gains 316 548
 Income before accounting changes 48,413 35,962
 Accounting changes, net (11,481) 0
 Net income 36,932 35,962
 At: 3/31/93 12/31/92
 Net finance receivables $6,302,281 $6,199,686
 Total assets 7,343,677 7,210,763
 1st Qtr ratios as percent of
 receivables 1993 1992
 Charge-offs (pct.) 1.9 2.1
 Delinquency (pct.) 2.1 2.5
 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 approximately 2.3 million middle income Americans. The company, headquartered in Evansville, Ind., has assets of $7.3 billion and operates over 1,250 branch offices in 39 states, Puerto Rico, and the Virgin Islands. Services offered include direct consumer and home equity loans; indirect retail sales financing; life, health, and property insurance; and credit card services.
 -0- 4/28/93
 /CONTACT: Philip M. Hanley, chief financial officer of American General Finance Inc., 812-468-5420/
 (AGC)


CO: American General Finance, Inc. ST: Indiana IN: FIN SU: ERN

BM -- CL002 -- 1764 04/28/93 08:05 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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