X0202 4 2006-02-22 0 0001042046 AMERICAN FINANCIAL GROUP INC AFG 0000942082 LINDNER CARL H III ONE EAST FOURTH STREET CINCINNATI OH 45202 1 1 0 0 Co-CEO & Co-President Common Stock 0 D Common Stock 1438522 I #1 Common Stock 20539 I #2 Common Stock 14878.42 I #4 Common Stock 509873 I #5 Common Stock 81219 I #6 Common Stock 21289 I #9 Common Stock 21289 I #10 Common Stock 1000000 I #12 Common Stock 21299 I #13 Common Stock 1584 I #14 Common Stock 10 I #15 Common Stock 21289 I #16 Common Stock 0 I #17 Common Stock 2853239 I #18 Stock Option 40.34 2006-02-22 4 A 0 55000 0.00 A 2016-02-25 Common Stock 55000 55000 D On January 10, 2006, Indirect #18 transferred 146,761 shares of common stock to Indirect #1 Indirect #1: By Carl H. Lindner III, For the Second Amended & Restated Carl H. Lindner III Family Trust Dated 3/11/94. Indirect #2: By Martha S. Lindner (Spouse), Trustee For the Second Amended and Restated Marth S. Lindner Family Trust dated 3/11/94. Indirect #4: The Company Retirement and Savings Account. The number of shares of Common Stock which would be represented by the value of the Reporting Person's Company Securities Funds account in the Issuer's Retirement and Savings Plan is based on a statement dated as of 12/31/2005. Indirect #5: By Keith E. Lindner, Trustee under an Irrevocable Trust Indenture with Carl H. Lindner III dated 11/1/82. Indirect #6: By Keith E. Lindner, Trustee under an Irrevocable Trust Indenture with Carl H. Lindner III dated 7/1/83. Indirect #9: By Keith E. Lindner, Trustee under an Irrevocable Trust Indenture with Carl H. Lindner III and Marth A. Lindner dated 8/23/85. Indirect #10: By Keith E. Lindner, Trustee under an irrevocable Trust Indenture with Carl H. Lindner III and Martha S. Lindner dated 9/26/89. Indirect #12: CHL Investments, LLC, a limited liability company directly or indirectly wholly-owned by the Reporting Person. Indirect #13: Daughter of Reporting Person Indirect #14: Carl H. Lindner III, custodian of a minor. Indirect #15: Son of Reporting Person. Indirect #16: Son of Reporting Person. Indirect #17: Spouse of Reporting Person. Indirect #18: CHL III, TTEE of the CHL III 2005-1 Qualified Annuity Trust DTD 10/26/2005. These Employee Stock Options ("Options") become exercisable as to 20% of the shares initially granted on the first anniversary of the date of grant, with an additional 20% becoming exercisable on each subsequent anniversary. The Options were granted under the Issuer's Stock Option Plan pursuant to Rule 16b-3. Carl H. Lindner III By: Karl J. Grafe, as Attorney-in-Fact 2006-02-24