FORM 4

U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utilities Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

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(Print or Type Responses)

1.  Name and Address of Reporting Person   LindnerCarl         H.

2.  Issuer Name and Ticker or Trading Symbol   AMERICAN FINANCIAL GROUP, INC. (AFG)

6.  Relationship of Reporting Person to Issuer                (Check all applicable)

(Last)                   (First)                  (Middle)   One East Fourth Street

3. IRS Identification,   Number of Reporting   Person, if an entity (Voluntary)

4.Statement forMonth/Day/Year   February 28, 2003

X  Director

10% Owner

X  Officer (give      title below)

Other (specify            below)

(Street)   Cincinnati,   Ohio     45202

5. If Amendment,    Date of Original    (Month/Day/Year)

Chairman of the Board      & Chief Executive Officer

7. Individual or Joint/Group Filing (Check Applicable Line)  X Form filed by One Reporting Person     Form filed by More than One Reporting PersonForm filed by One Reporting Person     Form filed by More than One Reporting Person

(City)                    (State)                     (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of or Beneficially Owned

1.  Title of Security      (Instr. 3)

2. Trans- action Date

2A. Deemed Execution Date, if any

3. Trans- action Code (Instr. 8)

4.  Securities Acquired (A) or Disposed of (D) (Instr. 3,4 and 5)

5. Amount of Securities Beneficially Owned

6. Owner- ship Form: Direct

7. Nature of In- Direct Bene-

(Month/ Day/ Year)

(Month/ Day/ Year)

Code

V

Amount

(A) or (D)

Price

Following Reported Transactions (Instr. 3 and 4)

(D) or Indirect (I) (Instr. 4)

Ficial Owner- ship (Instr. 4)

Common Stock

-0-

D

Common Stock

2/28/03

P

29,800

A

$19.5997

3,694,622.77

I

#1

Common Stock

4,073,443.79

I

#2

Common Stock

-0-

I

#5

Common Stock

2,682,361.56

I

#6

Common Stock

-0-

I

#7

Common Stock

537,779

I

#8

Reminder:  Report on a separate line for each class of securities beneficially owned directly or indirectly.                                              Over 
*If the form is filed by more than one reporting person, see Instruction 4(b)(v)                                                              

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FORM 4  (continued)                                                                        Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1.  Title of Derivative Security   (Instr. 3)

2. Conver- sion or| Exercise Price of Deriv- ative

3.  Trans- action Date

3A  Deemed Execution Date, if any

4. Transac- tion Code (Instr. 8)

5. Number of Deriv- ative Securities Ac- quired (A) or Dis- posed of (D) (Instr. 3, 4 and 5)

6.  Date Exercisable and Expiration Date (Month//Day/Year)

7.  Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Deriv- ative ecuri- ty

9.  Number of Deriv- ative Secur- ities Bene-

10. Owner- ship Form of De- rivative Secur

11. Nature of In- direct Bene- ficial Owner-

Security

(Month/ Day/ Year)

(Month/ Day/ Year)

Date

Expiration

Amount or

(Instr. 5)

icially Owned at End of

Ity Direct (D) or Indi-

Ship (Instr. 4)

Code

V

(A)

(D)

Exercisable

Date

Title

Number of Shares

Month (Instr. 4)

rect (I) (Instr. 4)

Explanation of Responses:

Indirect #1   By Carl H. Lindner Jr., et al, Trustees for the Carl H. Lindner Amended and Restated Family Trust dated 12-23-83.
Indirect #2   By Edyth B. Lindner, Spouse.
Indirect #5   By Joseph A. Pedeto, Trustee of the Edyth B. Lindner 1996-1 Qualified Annuity Trust U/A dated 11/6/96.
Indirect #6   By Lou Ann Flint, Trustee of the Edyth B. Lindner 2002-2 Qualified Annuity Trust U/A dated 8/19/02.
Indirect #7   By Joseph A. Pedeto, Trustee of the Edyth B. Lindner 1999-1 Qualified Annuity Trust U/A dated 12/22/99.
Indirect #8   Indiana Premier Fund, LLC, a limited liability company directly or indirectly wholly-owned by the Reporting Person.

**Intentional misstatements or omissions of facts constitute Federal Criminal violations	Karl J. Grafe ________                                       March 3, 2003
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a)	** Signature of Reporting PersonDate
	Carl H. Lindner
Note:  File three copies of this Form, one of which must be manually signed	By: Karl J. Grafe, as attorney-in-fact
	Page 2
If space provided is insufficient, see Instruction 6 for procedure	SEC 1474 (9-02)