HOUSTON, Oct. 24 /PRNewswire/ -- The board of directors of American
General Corporation (NYSE: AGC) in accordance with the company's plan for CEO
succession, today announced that Robert M. Devlin, president, has been named
to the additional post of CEO.  Under the plan announced in 1995, Harold S.
Hook, who has served as chairman and CEO since 1978, will continue as chairman
until the annual shareholders' meeting in 1997, at which time Devlin will be
named chairman.  Devlin is only the fourth CEO since the company's founding in
1926.
    In a related action, the board elected James S. D'Agostino Jr. to American
General's board of directors and announced that D'Agostino will succeed Devlin
as president at the annual shareholders' meeting in 1997. At that time,
D'Agostino will become a member of the office of the chairman along with
Devlin and Jon P. Newton, vice chairman and general counsel.  Until the 1997
annual meeting, D'Agostino will continue to serve as chairman and CEO of
American General Life and Accident Insurance Company in Nashville, a position
he assumed in 1993.
    In commenting on the announcement, Devlin said, "Under Harold's
leadership, American General has grown to be one of the nation's largest and
most successful diversified financial services organizations.  This
extraordinary record was achieved in a period of unprecedented change for the
industry and at a time during which American General's business segments were
significantly transformed.  Also, I am pleased that Jim has been elected to
our board and will be joining the office of the chairman as president next
spring.   I look forward to working closely with Jon and Jim in continuing
American General's commitment to building shareholder value and providing
quality service for our customers."
    Hook, 65, joined American General in 1970 as president of a life insurance
subsidiary.  He was elected to American General's board of directors in 1972
and was elected president of the parent company in 1975 and chairman and CEO
in 1978.  A Chartered Life Underwriter (CLU), Hook holds two degrees, a BS
degree in Business Administration and an MA degree in Accounting, from the
University of Missouri (Columbia).
    Devlin, 55, joined American General in 1977 in an insurance subsidiary and
has served in a broad range of senior management positions in the parent
company and in operating subsidiaries.  He was elected vice chairman and
director of American General Corporation in 1993 and served in that position
before being elected president in 1995.  Devlin served as president and CEO of
Houston-based American General Life Insurance Company from 1986 to 1993.  A
Chartered Life Underwriter (CLU), he holds a BA degree in Economics from
Tulane University.
    D'Agostino, 50, joined American General in 1986 and held several key
management positions in the parent company before being named chairman and CEO
of the Nashville-based life insurance subsidiary in 1993.  He holds two
degrees, a BS degree in Economics from Villanova University and a JD degree
from Seton Hall University School of Law.  D'Agostino has completed the
Advanced Management Program at Harvard University.
    American General Corporation is one of the nation's largest diversified
financial services organizations with assets of $64 billion and shareholders'
equity of $5.4 billion.  Headquartered in Houston, it is a leading provider of
retirement annuities, consumer loans, and life insurance to over 8 million
households.  American General common stock is listed on the New York, Pacific,
London, and Swiss stock exchanges.

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