Great American Financial Resources, Inc. Declares Dividend on Common Stock

  
    
  
  
    
      Great American Financial Resources, Inc. (NYSE:GFR) announced today that 
      its Board of Directors has declared an annual cash dividend of $.10 per 
      common share payable December 18, 2006 to holders of record at the close 
      of business on December 1, 2006.
    
    
      About GAFRI
    
    
      GAFRI is a Cincinnati-based insurance holding company with nearly $13 
      billion in assets. The Company's subsidiaries include Great American 
      Life Insurance Company, Annuity Investors Life Insurance Company, 
      Central Reserve Life Insurance Company, Continental General Insurance 
      Company, United Teacher Associates Insurance Company and Loyal American 
      Life Insurance Company. Through these companies, GAFRI markets 
      traditional fixed, indexed and variable annuities and a variety of 
      supplemental insurance products.
    
  
Great American Financial Resources, Inc. (NYSE:GFR) announced
today that its Board of Directors has declared an annual cash dividend
of $.10 per common share payable December 18, 2006 to holders of
record at the close of business on December 1, 2006.

   About GAFRI

   GAFRI is a Cincinnati-based insurance holding company with nearly
$13 billion in assets. The Company's subsidiaries include Great
American Life Insurance Company, Annuity Investors Life Insurance
Company, Central Reserve Life Insurance Company, Continental General
Insurance Company, United Teacher Associates Insurance Company and
Loyal American Life Insurance Company. Through these companies, GAFRI
markets traditional fixed, indexed and variable annuities and a
variety of supplemental insurance products.