1. AMERICAN NATIONAL INSURANCE COMPANY A+ A+ by AM Best & Co. AA AA by Standard & Poor Over $3 Billion in Capital Surplus $125 in Assets for every $100 of Liabilities Consolidated Assets of over $17 Billion 95! And a Comdex Score of 95!

2. Fixed Annuities - What’s Next? June 15, 2006 Our Newest EIA – June 15, 2006 We’ve come up with a truly winning formula We’ve come up with a truly winning formula Annual Reset! Riders Galore! Annual Reset! Riders Galore!

3. ANICO Strategy Indexed Annuity The ANICO Strategy Indexed Annuity is Coming Your Way... Want to learn about what’s sure to be the next best indexed annuity? 1. Clean Simple Design 2. Strong Guarantees 3. Innovative Riders Not Available on any fixed or indexed annuities!

4. ANICO Strategy Indexed Annuity Indexed to the S&P 500 No Averaging  Annual Reset/Point-to-Point, No Averaging Locked in  100% Participation Locked in at Issue (Only Moving Part)  Annually Declared Cap Rate (Only Moving Part)  Both an Index Interest & Fixed Interest Acct. –Index interest based on S&P 500 Performance –Fixed Interest declared annually –Can reallocate funds between the two accounts on policy anniversary

5. ANICO Strategy Indexed Annuity Indexed to the S&P 500  Issued to ages 0-85 Owner/Annuitant  Single Premium Product –$5,000 Minimum Premium for Non-Qualified –$4,000 Minimum Premium for Qualified  10% Penalty-Free Withdrawals of Annuity Value after 1 st Yr (No MVA)  Both a 7 and a 10-yr Surrender (No MVA) 7-yr: 7,7,6,5,4,3,2,07-yr: 7,7,6,5,4,3,2,0 10 Yr: 9,9,8,7,6,5,4,3,2,1,010 Yr: 9,9,8,7,6,5,4,3,2,1,0 Walk-away at end of termWalk-away at end of term

6. ANICO Strategy Indexed Annuity Indexed to the S&P 500  Waiver of Surrender Charges –10% Partials after yr 1 Based on full Account Value as of beginning of contract yearBased on full Account Value as of beginning of contract year Includes Indexed Interest CreditsIncludes Indexed Interest Credits (ALL Yrs) –Required Minimum Distributions (ALL Yrs) –Disability or Confinement in a: HospitalHospital Hospice FacilityHospice Facility Convalescent Care FacilityConvalescent Care Facility  Death Benefit –Paid at the death of the Owner OR –Greater of Full Annuity (Account) Value, including indexed earnings up to the date of death OR –Surrender Value

7. Upgrades…. ANICO Strategy Indexed Annuity Indexed to the S&P 500 – Upgrades…. (Optional) Lifetime Income Rider  Innovative (Optional) Riders: Lifetime Income Rider –Payments can begin anytime after age 60 –Guarantees Income for Life Even if the Annuity Value Declines to 0! –It must be added at issue, but can be dropped anytime! –Payment based on highest AV from date payments start –Income Benefit is treated like a free partial withdrawal IT CAN BE STOPPED AT ANYTIME!IT CAN BE STOPPED AT ANYTIME! That’s right – the guarantees of a lifetime annuitization with the flexibility of systematic withdrawals – You Can’t Beat That!That’s right – the guarantees of a lifetime annuitization with the flexibility of systematic withdrawals – You Can’t Beat That! –The Cost for the rider is guaranteed at issue for the life of the contract Is expected to be.40% of the account value per yearIs expected to be.40% of the account value per year Much lower than competing variable products!Much lower than competing variable products!

8. Upgrades... ANICO Strategy Indexed Annuity Indexed to the S&P 500 – Upgrades... (Optional) Enhanced Death Benefit Rider  Innovative (Optional) Riders: Enhanced Death Benefit Rider –Enhanced Death Benefit Rider – Increases DB by a % of index gains –Benefit Varies by Age Through age 69 = 45% Ages 70 – 74 = 25% Ages 75 – 80 = 20% Ages 81+ = 15% –NO UNDERWRITING! –Must be added at issue, but can be dropped at anytime –Cost is guaranteed for the life of the contract Is anticipated to be.25% of the account value per yearIs anticipated to be.25% of the account value per year

9. Upgrades... ANICO Strategy Indexed Annuity Indexed to the S&P 500 – Upgrades... Return of Premium Rider  Totally Innovative Riders: Return of Premium Rider –Gtd. Min. SV = Initial Premium – Withdrawals –Must be added at issue –Cannot be Dropped –Cost will be a reduction in the declared cap rate Current reduction is.50%

10. Commissions ANICO Strategy Indexed Annuity Indexed to the S&P 500 – Commissions WITHOUT  Commissions WITHOUT Trails: –‘ASIA’ 10 8%, Ages 0-758%, Ages 0-75 6.5%, Ages 76-806.5%, Ages 76-80 5%, Ages 81-855%, Ages 81-85 –‘ASIA’ 7 5%, Ages 0-755%, Ages 0-75 4%, Ages 76-804%, Ages 76-80 3%, Ages 81-853%, Ages 81-85

11. Commissions ANICO Strategy Indexed Annuity Indexed to the S&P 500 – Commissions WITH  Commissions WITH Trails: –‘ASIA’ 10 5.5%, Ages 0-755.5%, Ages 0-75 4.0%, Ages 76-804.0%, Ages 76-80 2.5%, Ages 81-852.5%, Ages 81-85 –‘ASIA’ 7 3%, Ages 0-753%, Ages 0-75 2%, Ages 76-802%, Ages 76-80 1%, Ages 81-851%, Ages 81-85 –TRAILS =.35% to the writing agent

12. As of 6/15/06... ANICO Strategy Indexed Annuity Indexed to the S&P 500 - As of 6/15/06...  Minimum Guaranteed Surrender Value is based on a Minimum Guaranteed Interest Rate (MGIR) based on 90% of premium –Indexed Interest Account ASIA 10: @ 3.00%ASIA 10: @ 3.00% ASIA 7: @ 2.65%ASIA 7: @ 2.65% –Fixed Interest Account ASIA 10: @ 3.00%ASIA 10: @ 3.00% ASIA 7: @ 3.00%ASIA 7: @ 3.00%

13. As of 6/15/06... ANICO Strategy Indexed Annuity Indexed to the S&P 500 – As of 6/15/06...  Annually Declared Cap Rates Are: –ASIA 10 = 7% –ASIA 7 = 7.5%  Fixed Interest Bucket is Crediting: –ASIA 10 = 3.75% –ASIA 7 = 4.05%

14. State Approvals ANICO Strategy Indexed Annuity Indexed to the S&P 500 – State Approvals Both  ASIA Both the 7 and the 10: AL, AK, AZ, CO, DE, DC, FL, GA, HI, ID, IL, IN, IA, KY, LA, ME, MI, MS, MO, NE, NH, NJ, NM, OH, RI, SC, SD, VA, WV, WY

15. So, be on the look-out for “ASIA”, the next BEST

16. So Why Do Business with American National

17. Why Do Your Business with American National?  Agent Focused Company: Knowledgeable/Friendly Staff  Additional Support thru Field Support Ctr.  Innovative ‘Market-Driven’ Approach  One of the Industry’s Financially Strongest  Dedicated 1035 Exchange Unit  Reciprocal Non-Resident Appointments in all but 10 states for overrides  Great annuity and life products OUR SUSTAINABLE COMPETITIVE ADVANTAGE: SERVICE

18. American National Insurance Company  Thanks for your interest in American National and especially your business!  We look forward to a long and profitable relationship with you.