Translation Results Requested Through Conyac Made Public

Great American Financial Resources today announced a definitive agreement with Lincoln Investment, an independently owned and operated broker/dealer. As part of this agreement, GAFRI will exit the independent broker/dealer business conducted through its wholly owned operating subsidiary, Great American Advisors, Inc. This action reflects GAFRI’s ongoing strategy to focus on its core insurance and annuity operations.

It is the intention of both parties to transition the registered representatives and customer accounts of GAA to Lincoln Investment, subject to regulatory approval. The transition is expected to be complete in early 3rd quarter, 2010.

GAFRI selected Lincoln Investment, due to its high service standards and expertise in the qualified plans arena. “This action is consistent with GAFRI’s desire to refine its strategic focus on its core lines of business,” said GAFRI EVP. “We believe that current GAA reps will benefit from the independence that Lincoln can provide.”
Specifically, the agreement affirms that GAA will no longer provide retail brokerage services to independent registered representatives. However, GAFRI will continue to sell variable annuities through unaffiliated broker/dealers and operate GAA as an SEC registered broker/dealer and registered investment advisor to service its variable annuity and retirement plans businesses.