News Update

BW0146  OCT 06,1999       7:31  PACIFIC      10:31  EASTERN

American General Announces Executive Management Appointments



    Business Editors

    HOUSTON--(BUSINESS WIRE)--Oct. 6, 1999--American General (NYSE:AGC) today announced that John A. Graf has been promoted to vice chairman and group executive - retirement services, and that Frederick W. Geissinger has been promoted to vice chairman and group executive consumer finance. In addition, David W. Entrekin has been promoted to executive vice president - strategic development, a newly created position in which he will have responsibility for strategic planning, corporate development, and investor relations.
    Commenting on the announcement, Robert M. Devlin, chairman, president and chief executive officer, said, "It's a pleasure to recognize John, Rick, and David for their significant contributions. These appointments reinforce the fact that we are focused on building one of the strongest management teams in the financial services industry. Their continued contributions will help further our goal of being one of the most consistent and high-performing organizations in our industry."
    Graf, Geissinger, and Entrekin will report directly to Devlin, and also will serve as members of American General's Management Committee. The committee is responsible for the development of company-wide strategy, performance, and resource allocation. The other members of the Management Committee that report to Devlin are Rodney O. Martin Jr., vice chairman and group executive - life insurance and Jon P. Newton, vice chairman and group executive - corporate operations. The remaining members of the committee are Richard W. Scott, executive vice president and chief investment officer; Mark S. Berg, executive vice president and general counsel; and Nicholas R. Rasmussen, executive vice president and chief financial officer.
    Graf, 40, joined American General as president of American General Retirement Services in 1997. Previously, he served as vice chairman, and chief marketing and administrative officer of Western National Corporation. Graf has nearly 20 years of experience in the financial services industry and began his career as a marketing management trainee with John Hancock. A native of Chicago, Graf received his B.A. in economics from the University of Illinois in 1981. In his new position, Graf succeeds Thomas L. West Jr., who will serve as a consultant to American General.
    Geissinger, 54, has served as president and chief executive officer of American General Finance since 1995. Previously, he served as president and CEO of American General Mortgage and Land Development Inc. Prior to joining the company in 1994, Geissinger was executive vice president of Daiwa Securities. He also spent 21 years with Chase Manhattan Bank, where he served in various management positions. A native of Huntingdon, Pa., Geissinger received his B.A. in economics from Dartmouth College in 1967 and his M.B.A. from the University of Chicago in 1969.
    Entrekin, 37, joined American General's investment management department in 1991 and served as senior investment manager. He was promoted to director - investor relations in 1996, and became senior vice president - investor relations in 1998. Prior to joining the company, Entrekin worked as an investment analyst in the capital markets group of Metropolitan Life Insurance Company and as a marketing representative with Texaco Refining and Marketing Inc. A native of Atlanta, he received his B.S. in industrial management from the Georgia Institute of Technology in 1984 and his M.B.A. in finance from The University of Texas in 1989.
    American General is one of the nation's largest diversified financial services organizations, with assets of $110 billion and market capitalization of $17 billion. Headquartered in Houston, it is a leading provider of retirement services, investments, life insurance, and consumer loans to over 12 million customers. American General common stock is listed on the New York, Pacific, London, and Swiss stock exchanges.

     --30--MJB/ho*

     CONTACT: American General Corporation 
              Investors: Kenneth A. Brause, 212/446-3107                                    
              Vice President - Investor Relations                  
              or
              Media: John E. Pluhowski, 713/831-1149                   
              Director - Corporate Communications  

     KEYWORD: TEXAS ILLINOIS PENNSYLVANIA GEORGIA
     INDUSTRY KEYWORD: INSURANCE MANAGEMENT CHANGES