American General Names Donald W. Britton President of Life Insurance Division

Business Wire, April 6, 1999

HOUSTON--(BUSINESS WIRE)--April 6, 1999--American General (NYSE:AGC) today announced that Donald W. "Butch" Britton has been named president of its life insurance division. In this newly created position, Britton is responsible for the division's distribution channels, product development, and marketing. American General's life division, with 1998 earnings of $674 million and life insurance sales of $612 million, is one of the nation's largest life insurance organizations -- providing financial security for more than 8 million customers.

In commenting on the announcement, Robert M. Devlin, chairman, president and chief executive officer of American General, said, "We're pleased to welcome Butch to American General. He brings a wealth of knowledge and expertise in distribution management, product development, and marketing. Butch will play a critical role in implementing our life division's strategic initiatives, which include managing our multiple distribution channels, developing top-tier products for distribution across our channels, and leveraging the American General brand name throughout the division."

Britton joins American General after 18 years with First Colony Life Insurance Company, which was acquired by GE Capital in 1997. Prior to joining American General, Britton was president of First Colony Life. He also served as executive vice president -- marketing, with responsibility for product development. He began his 25-year financial services career with Integon Life Insurance Company where he served in product development and was a life product actuary.

Britton, 50, is a native of Roanoke Rapids, N.C. He is a Fellow in the Society of Actuaries (FSA) and a Member of the American Academy of Actuaries (MAAA). He holds two degrees in mathematics from East Carolina University, a B.A. degree in 1971 and an M.A. degree in 1973.

American General's life insurance division ranks as the third-largest writer of new individual life insurance premium in the United States and the largest writer of universal life insurance. With assets of $36 billion and life insurance in force of $341 billion, the division markets life insurance and annuities through independent producers, general agents, and career agents. American General's life division companies include: All American Life Insurance Company, The American Franklin Life Insurance Company, American General Life Insurance Company, American General Life Insurance Company of New York, American General Life and Accident Insurance Company, The Franklin Life Insurance Company, The Old Line Life Insurance Company of America, The United States Life Insurance Company in the City of New York, and American General Assurance Company.

American General Financial Group is one of the nation's largest diversified financial services organizations, with assets of $105 billion and market capitalization of $19 billion. Headquartered in Houston, it is a leading provider of retirement services, life insurance, and consumer loans to more than 12 million customers. American General common stock is listed on the New York, Pacific, London, and Swiss stock exchanges.