American National Announces Third Quarter 20...(s: Operating earnings * $...),Health

Operating

earnings * $6,279,000 $60,653,000 $48,794,000 $165,359,000

Net realized

investment

gains

(losses) $(131,312,000) $18,592,000 $(137,737,000) $22,082,000

Net income

(loss) $(125,033,000) $79,245,000 $(88,943,000) $187,441,000

Per share

earnings:

Operating

earnings * $0.24 $2.28 $1.82 $6.21

Net realized

investment

gains

(losses) $(4.93) $0.70 $(5.17) $0.83

Net income

(loss) -

Diluted $(4.69) $2.98 $(3.34) $7.04

Net income

(loss) -

Basic $(4.72) $2.99 $(3.36) $7.08

Weighted

average number

of shares

Upon which

computations

are based:

Diluted 26,631,908 26,633,488 26,631,908 26,633,488

Basic 26,479,832 26,479,832 26,479,832 26,479,832

As of

September 30, 2008 December 31, 2007

Book value per

diluted share $126.70 $140.28

* Operating earnings exclude after-tax realized investment gains and

losses. The sum of Operating earnings and Realized investment gains

(losses) is equal to Net income.

American National Insurance Company is headquartered in Galveston, Texas. American National has over $18.8 billion in assets and is rated A+ (Superior) by A.M. Best Company, and AA (Very Strong) by Standard & Poor's. The American National family of companies offers a broad line of products and services, which include life insurance, annuities, health insurance, credit insurance, pension plan services and property and casualty insurance for p
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