Document:

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                                                                    EXHIBIT 4(a)

                                   CERTIFICATE

                  I, Timothy M. Hayes, Senior Vice President, Secretary and
General Counsel of American General Finance Corporation, an Indiana corporation
(the "Company"), do hereby certify that attached hereto is a true copy of
resolutions duly adopted by a duly authorized and appointed committee of the
Board of Directors of the Company by unanimous written consent on March 16,
2004, and such resolutions have not been amended, modified or rescinded and
remain in full force and effect.

                  IN WITNESS WHEREOF, I have hereunto signed my name.

Dated: March 26, 2004

                                        /s/ Timothy M. Hayes
                                        ----------------------------------------
                                        Timothy M. Hayes
                                        Senior Vice President, Secretary
                                         and General Counsel

<PAGE>

               RESOLUTIONS AUTHORIZING MEDIUM-TERM NOTES, SERIES I

                  WHEREAS, this Terms and Pricing Committee previously has
         authorized the creation, issuance and sale of up to $7,500,000,000
         aggregate principal amount of the Company's debt securities (the "Debt
         Securities"), which are to be issued under an Indenture, dated as of
         May 1, 1999 (the "Indenture"), between the Company and Citibank N.A.,
         as Trustee (the "Trustee"), and which Debt Securities have been
         registered under the Securities Act of 1933 on the Company's
         Registration Statement on Form S-3 (Registration No. 333-110318) which
         was declared effective by the Securities and Exchange Commission on
         December 3, 2003 (the "Registration Statement"); and

                  WHEREAS, this Terms and Pricing Committee now desires to
         create a series of Debt Securities and to authorize the issuance and
         sale thereof from time to time under a medium-term note program;

1. APPROVAL OF TERMS OF MEDIUM-TERM NOTES.

                  NOW, THEREFORE, BE IT RESOLVED, that this Terms and Pricing
         Committee hereby authorizes and approves the creation by the Company of
         a series of Debt Securities, the execution on behalf of the Company of
         such series of Debt Securities, the delivery of such series of Debt
         Securities to the Trustee, the authentication thereof by the Trustee,
         and the delivery thereof by the Trustee pursuant to a Company Order (as
         defined in the Indenture; and any terms used herein in initially
         capitalized form but not defined herein shall have the meanings given
         to them in the Indenture), all in accordance with Article Three of the
         Indenture and with the procedures set forth in the Indenture and in the
         administrative procedure hereinafter approved (the "Administrative
         Procedure") as follows:

                  a.       TITLE.

                  The title of such series of Debt Securities shall be
         "Medium-Term Notes, Series I" (the "Notes");

                  b.       AGGREGATE PRINCIPAL AMOUNT.

                  The aggregate principal amount of the Notes which may be
         authenticated and delivered under the Indenture shall not exceed
         $7,500,000,000, or the equivalent thereof in one or more foreign
         currencies, including the Euro, and any composite currency; such amount
         to be reduced by the aggregate principal amount of any other Debt
         Securities issued under the Registration Statement. For purposes of
         calculating the issue price of Notes denominated in a foreign currency
         to be applied against the amount of Notes authorized, such Notes shall
         have an issue price in U.S. dollars determined by the Trustee, as
         Paying Agent, using the noon buying rate in The City of New York for
         cable transfers in foreign currencies as certified (or if not so
         certified,

<PAGE>

         as otherwise determined) for customs purposes by The Federal Reserve
         Bank of New York;

                  c.       TYPE OF SECURITY.

                  The Notes shall be issued as Registered Securities pursuant to
         the Indenture; and the Notes may be issued, as determined by any two
         Authorized Officers (as named below), either in certificated form or in
         book-entry form; and beneficial owners of interests in any Notes issued
         in book-entry form may exchange such interests for Notes in
         certificated form only under the circumstances, and on the terms and
         conditions, as may be determined by any two Authorized Officers;

                  d.       MATURITY DATE.

                  Each Note shall have a Stated Maturity on which the principal
         of the Note is payable, as determined by any two Authorized Officers in
         accordance with the Administrative Procedure, which Stated Maturity may
         vary among the Notes and, in the case of extendible maturity notes, may
         be extended; provided, however, that each Stated Maturity shall not be
         less than nine months from date of issue;

                  e.       INTEREST, PRINCIPAL AMOUNT AND CURRENCY

                  Each Note shall be issued in a principal amount and in a
         currency determined by any two Authorized Officers in accordance with
         the Indenture and the Administrative Procedure; each interest bearing
         Note shall bear interest from its date of issue at either a fixed rate
         (a "Fixed Rate Note") or a floating rate determined by reference to
         such interest rate basis, bases or formula as may be determined by any
         two Authorized Officers and calculated in the manner described in one
         or more prospectus supplements or pricing supplements relating to the
         Notes (each a "Prospectus Supplement") to the prospectus constituting a
         part of the Registration Statement (the "Prospectus") and in accordance
         with the Administrative Procedure (a "Floating Rate Note," which term
         shall include any Note bearing interest with reference to both a
         floating rate and a fixed rate); all determinations regarding whether a
         Note is a Fixed Rate Note or a Floating Rate Note and, subject to the
         provisions established by these resolutions, all other determinations
         regarding interest on the Notes shall be made by any two Authorized
         Officers in accordance with the Indenture and the Administrative
         Procedure; and principal amounts and interest terms may vary among the
         Notes;

                  f.       ISSUE DATE.

                  Each Note shall be issued on and dated such date as may be
         determined by any two Authorized Officers in accordance with the
         Administrative Procedure, which date may vary among the Notes;

<PAGE>

                  g.       INTEREST PAYMENTS DATES AND RECORD DATES.

                  The Interest Payment Dates on which interest on each Fixed
         Rate Note shall be payable shall be March 1 and September 1 of each
         year, unless otherwise determined by any two Authorized Officers, and
         at Maturity of the Fixed Rate Note; interest payments on a Floating
         Rate Note shall be made on such dates as are provided in the applicable
         Floating Rate Note as determined by any two Authorized Officers in
         accordance with the provisions of the Indenture and the Administrative
         Procedure; and, unless otherwise determined by any two Authorized
         Officers, the Regular Record Date for the payment of interest on any
         Note shall be the fifteenth calendar day (whether or not a Business
         Day) prior to each such Interest Payment Date;

                  h.       PLACE AND MANNER OF PAYMENT.

                  Payment of the principal of, and premium and interest, if any,
         on the Notes shall be made at the places and in the manner approved by
         any two Authorized Officers in accordance with the provisions of the
         Indenture and the Administrative Procedure;

                  i.       REDEMPTION OR REPAYMENT.

                  The Notes shall not be redeemable or repayable prior to the
         Stated Maturity thereof unless otherwise determined with respect to
         specific Notes by any two Authorized Officers and unless so specified
         in a Prospectus Supplement, in which case such specific Notes shall be
         redeemable or repayable at the times or upon the events determined by
         such Authorized Officers and in accordance with the provisions set
         forth in such Notes and Prospectus Supplement and in the Indenture;

                  j.       SINKING FUND.

                  The Notes shall not be entitled to any sinking fund unless
         otherwise determined with respect to specific Notes by any two
         Authorized Officers and unless so specified in a Prospectus Supplement,
         in which case such specific Notes shall be entitled to a sinking fund
         at the times or upon the events determined by such Authorized Officers
         and in accordance with the provisions set forth in such Notes and
         Prospectus Supplement and in the Indenture;

                  k.       DENOMINATIONS.

                  The Notes shall be issuable in denominations of $1,000 or any
         amount in excess thereof which is an integral multiple of $1,000 (or
         such other authorized denominations in a specified currency other than
         United States dollars as shall be determined by any two Authorized
         Officers);

<PAGE>

                  l.       BOOK-ENTRY.

                  Unless otherwise determined with respect to specific Notes by
         any two Authorized Officers, all of the Notes shall be issued in
         book-entry form pursuant to the book-entry system described in a
         Prospectus Supplement and the accompanying Prospectus;

                  m.       FORMS OF BOOK-ENTRY SECURITIES.

                  The forms of book-entry securities for Fixed Rate Notes and
         Floating Rate Notes attached to this written consent as Exhibits A-1
         and A-2, respectively, and the terms and provisions of such Notes set
         forth therein (including, without limitation, the terms and provisions
         with respect to the payment of principal and interest and with respect
         to optional redemption, optional repayment and sinking fund payments),
         hereby are approved in all respects; and, unless otherwise determined
         by any two Authorized Officers in accordance with the authority granted
         to them pursuant to these resolutions, such forms of security shall be
         used for, and such terms and provisions shall apply to, each Fixed Rate
         Note and Floating Rate Note, respectively, issued in book-entry form
         (it being understood that such optional redemption, optional repayment
         and sinking fund terms shall not be applicable to any Note unless
         otherwise determined by any two Authorized Officers and unless so
         specified in a Prospectus Supplement);

                  n.       FORMS OF CERTIFICATED SECURITIES.

                  The forms of certificated securities for Fixed Rate Notes and
         Floating Rate Notes, and the terms and provisions for such Notes to be
         set forth therein, shall be as determined from time to time by any two
         Authorized Officers in accordance with the authority granted to them
         pursuant to these resolutions;

                  o.       ADDITIONAL TYPES OF NOTES.

                  The Notes may be issued as discount notes, indexed notes,
         extendible maturity notes and amortizing notes and, subject to the
         provisions established by these resolutions, all determinations
         regarding the terms of such Notes shall be made by any two Authorized
         Officers in accordance with the Indenture and the Administrative
         Procedure and all amounts payable with respect to such Notes shall be
         calculated in a manner described in such Notes and in one or more
         Prospectus Supplements; the forms of book-entry and certificated
         securities for such Notes, and the terms and provisions to be set forth
         therein, shall be as determined from time to time by any two Authorized
         Officers in accordance with the authority granted to them pursuant to
         these resolutions; and

<PAGE>

                  p.       MISCELLANEOUS.

                  In all other respects, the Notes shall have the terms to be
         established and reestablished from time to time by any two Authorized
         Officers; and be it

2. AUTHENTICATION AND DELIVERY OF NOTES.

                  FURTHER RESOLVED, that any one Authorized Officer be, and each
         of them hereby is, authorized and directed to cause the Trustee to
         complete and authenticate Notes in the form or forms and in the
         aggregate principal amount specified in paragraph 1 above in such
         denominations and registered in such names as shall hereafter be
         requested in accordance with a Company Order to the Trustee, and to
         deliver said authenticated Notes in accordance with said Company Order
         and the Administrative Procedure, and otherwise to act with respect to
         the Notes in accordance with the Company Order and the Administrative
         Procedure; and be it

3. DISTRIBUTION AGREEMENT.

                  FURTHER RESOLVED, that the Authorized Officers are hereby
         authorized to establish the form, terms and provisions of the
         Distribution Agreement relating to the sale of Notes to or through
         agents (the "Agents") to be entered into among the Agents and the
         Company (the "Distribution Agreement"), and that any two Authorized
         Officers be, and they hereby are, authorized in the name and on behalf
         of the Company to execute and deliver, in such number of counterparts
         as such Authorized Officers deem advisable, the Distribution Agreement
         in such form, and containing such terms and provisions, as the
         Authorized Officers executing the same shall approve, such approval to
         be conclusively evidenced by their execution and delivery thereof; and
         be it

4. ADMINISTRATIVE PROCEDURE.

                  FURTHER RESOLVED, that the Authorized Officers are hereby
         authorized to establish the forms, terms and provisions of the
         Administrative Procedure relating to the sale of Notes to or through
         the Agents, and that the appropriate officers of the Company be, and
         they hereby are, authorized to act in accordance with such
         Administrative Procedure in such form and containing such terms and
         provisions, as any two Authorized Officers shall approve; and be it

5. CALCULATION AGENT AGREEMENT.

                  FURTHER RESOLVED, that the Authorized Officers are hereby
         authorized to establish the form, terms and provisions of the
         Calculation Agent Agreement relating to the calculation of interest
         rates and amounts payable on Floating Rate Notes, to be entered into
         between the Company and the Trustee as calculation agent, and that any
         two Authorized Officers be, and they hereby are, authorized in the name
         and on behalf of

<PAGE>

         the Company to execute and deliver, in such number of counterparts as
         such Authorized Officers deem advisable, the Calculation Agent
         Agreement in such form, and containing such terms and provisions, as
         the Authorized Officers executing the same shall approve, such approval
         to be conclusively evidenced by their execution and delivery thereof;
         and be it

6. EXCHANGE RATE AGENCY AGREEMENT

                  FURTHER RESOLVED, that the Authorized Officers are hereby
         authorized to establish the form, terms and provisions of one or more
         Exchange Rate Agency Agreements relating to the calculation of exchange
         rates between U.S. dollars and foreign currencies in which Notes may be
         denominated and payable, to be entered into between the Company and the
         Trustee, or any affiliate thereof, as exchange rate agent, and that any
         two Authorized Officers be, and they hereby are, authorized in the name
         and on behalf of the Company to execute and deliver, in such number of
         counterparts as such Authorized Officers deem advisable, any Exchange
         Rate Agency Agreement in such form, and containing such terms and
         provisions, as the Authorized Officers executing the same shall
         approve, such approval to be conclusively evidenced by their execution
         and delivery thereof; and be it

7. LETTER OF REPRESENTATIONS.

                  FURTHER RESOLVED, that the Authorized Officers are hereby
         authorized to establish the form, terms and provisions of the Letter of
         Representations relating to certain matters arising in connection with
         the issuance of Notes, to be entered into among the Company, the
         Trustee and The Depository Trust Company, and that any one Authorized
         Officer be, and each of them hereby is, authorized in the name and on
         behalf of the Company to execute and deliver, in such number of
         counterparts as such Authorized Officer deems advisable, the Letter of
         Representations in such form, and containing such terms and provisions,
         as the Authorized Officer executing the same shall approve, such
         approval to be conclusively evidenced by such Authorized Officer's
         execution and delivery thereof; and be it

<PAGE>

8. AUTHORIZED OFFICERS.

                  FURTHER RESOLVED, that the Chairman, the Chief Executive
         Officer, the President, the Chief Financial Officer, the Treasurer and
         any Assistant Treasurer of the Company be, and each of them hereby is,
         appointed as an Authorized Officer, and that any two Authorized
         Officers be, and hereby are, authorized to make all determinations and
         to do and prepare all such acts or things, and to execute, deliver, and
         file such documents or instruments as may be necessary or appropriate
         in order to carry out fully the purposes and intent of the foregoing
         resolutions, except that any one Authorized Officer, acting alone,
         shall be authorized to take the actions specified in paragraphs 2 and 7
         above; and be it

9. FURTHER MISCELLANEOUS AUTHORITY.

                  FURTHER RESOLVED, that the appropriate officers of the Company
         be, and each of them hereby is, authorized to do and perform all such
         acts or things, and to execute, deliver, and file such documents or
         instruments as such officer may deem necessary or appropriate in order
         to carry out fully the purpose and intent of the foregoing resolutions.<PAGE>

                                                                    EXHIBIT 4(b)

                                   [SPECIMEN]

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF.
UNLESS AND UNTIL IT IS EXCHANGED FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY
NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE
DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER
NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

REGISTERED                                                     PRINCIPAL AMOUNT:
No.

CUSIP:

                                 GLOBAL SECURITY

                      AMERICAN GENERAL FINANCE CORPORATION
                                   FIXED RATE
                           MEDIUM-TERM NOTE, SERIES I

    ORIGINAL ISSUE DATE:                                INITIAL REDEMPTION DATE:

    STATED MATURITY:                              INITIAL REDEMPTION PERCENTAGE:

    INTEREST RATE:                       ANNUAL REDEMPTION PERCENTAGE REDUCTION:

    SPECIFIED CURRENCY (If other than U.S. dollars):

    EXCHANGE RATE AGENT (If Specified Currency is other than U.S. dollars):

    AUTHORIZED DENOMINATIONS (If other than U.S.$1,000 and integral multiples
    thereof):

    INTEREST PAYMENT DATE(S):                                 ADDENDUM ATTACHED:

                                                              [ ] Yes
                                                              [ ] No

    OPTIONAL REPAYMENT DATE(S):                                OTHER PROVISIONS:

<PAGE>

         AMERICAN GENERAL FINANCE CORPORATION, an Indiana corporation (the
"Company", which term includes any successor corporation under the Indenture
referred to herein), for value received, hereby promises to pay to CEDE & CO.,
or registered assigns, the principal amount specified above in the currency
specified above (the "Specified Currency") on the Stated Maturity specified
above (except to the extent redeemed, repaid or accelerated prior to the Stated
Maturity), and to pay interest thereon in the Specified Currency at the Interest
Rate per annum specified above, computed on the basis of a 360-day year
consisting of twelve 30-day months, until the principal hereof is paid or duly
made available for payment. References herein to "this Note", "hereof", "herein"
and comparable terms shall include an Addendum hereto if an Addendum is
specified above.

         The Company will pay interest on each Interest Payment Date specified
above, commencing on the first Interest Payment Date next succeeding the
Original Issue Date specified above, unless the Original Issue Date occurs after
a Regular Record Date (as defined below) and on or before the next succeeding
Interest Payment Date, in which case commencing on the second Interest Payment
Date succeeding the Original Issue Date, and on the Stated Maturity or any
Redemption Date or Optional Repayment Date (each as defined below) (the date of
each such Stated Maturity, Redemption Date and Optional Repayment Date and the
date on which principal is due and payable by acceleration pursuant to the
Indenture (as defined below) being referred to hereinafter as a "Maturity" with
respect to principal payable on such date). Interest on this Note will accrue
from and including the most recent Interest Payment Date to which interest has
been paid or duly provided for or, if no interest has been paid or duly provided
for, from and including the Original Issue Date specified above, to but
excluding the applicable Interest Payment Date or Maturity, as the case may be,
until the principal hereof has been paid or duly made available for payment. If
the Maturity or an Interest Payment Date (each a "Payment Date") falls on a day
that is not a Business Day (as defined below), principal, premium, if any, and
interest payable with respect to such Payment Date will be paid on the next
succeeding Business Day with the same force and effect as if made on such
Payment Date, and no interest shall accrue with respect to such payment for the
period from and after such Payment Date. The interest so payable and punctually
paid or duly provided for on any Interest Payment Date will be paid to the
Person in whose name this Note (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date for such Interest
Payment Date (the "Holder"), which shall be the fifteenth calendar day (whether
or not a Business Day) next preceding such Interest Payment Date. Any such
interest which is payable but not punctually paid or duly provided for on any
Interest Payment Date (herein called "Defaulted Interest"), shall forthwith
cease to be payable to the Holder on such Regular Record Date and may be paid to
the Person in whose name this Note (or one or more Predecessor Securities) is
registered at the close of business on a Special Record Date for the payment of
such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to the Holder of this Note not less than 10 days prior to such Special
Record Date, or may be paid at any time in any other lawful manner, all as more
fully provided in the Indenture.

         For purposes of this Note, "Business Day" means any day, other than a
Saturday or Sunday, that is neither a legal holiday nor a day on which
commercial banks are authorized or required by law, regulation or executive
order to close in The City of New York; provided, however, that, with respect to
Notes denominated in a currency other than U.S. dollars, the day must also not
be a day on which commercial banks are authorized or required by law, regulation
or executive order to close in the Principal Financial Center (as defined below)
of the country issuing the Specified Currency (or, if the Specified Currency is
Euro, the day must also be a day on which the Trans-European Automated Real-Time
Gross Settlement Express Transfer (TARGET) system is open).

                                       2
<PAGE>

"Principal Financial Center" means the capital city of the country issuing the
Specified Currency; provided, however, that with respect to U.S. dollars,
Australian dollars, Canadian dollars, Euro, South African rand and Swiss francs,
the Principal Financial Center shall be The City of New York, Sydney, Toronto,
London, Johannesburg and Zurich, respectively.

         The principal hereof and any premium and interest hereon are payable by
the Company in the Specified Currency shown above. If the Specified Currency of
this Note is U.S. dollars, then payment of the principal, premium, if any, and
interest on this Note will be made by wire transfer of such money of the United
States of America as at the time of payment shall be legal tender for payment of
public and private debts to an account specified by the Holder for such purpose.
If the Specified Currency of this Note is other than U.S. dollars, the Exchange
Rate Agent specified above or a successor thereto (the "Exchange Rate Agent")
will (unless otherwise specified herein) arrange to convert all payments in
respect hereof into U.S. dollars in the manner described below. However, the
Holder hereof may elect to receive all or a specified portion of any payment of
principal, premium, if any, and/or interest in respect hereof in the Specified
Currency by delivery of a written request to the Trustee at its corporate trust
office in The City of New York on or prior to the fifth Business Day after the
applicable record date or at least ten calendar days prior to the Maturity, as
the case may be. Such request may be mailed or hand delivered or sent by cable,
telex or other form of facsimile transmission. Such election will remain in
effect until revoked by written notice delivered to the Trustee on or prior to
the fifth Business Day after the applicable record date or at least ten calendar
days prior to the Maturity, as the case may be.

         If the Specified Currency is other than U.S. dollars and the Holder
fails to elect payment in such Specified Currency, the amount of any U.S. dollar
payments to be made in respect hereof will be determined by the Exchange Rate
Agent in the morning of the day that would be considered the date for "spot"
settlement of such Specified Currency on the applicable Payment Date in
accordance with market convention (generally two New York Business Days (as
defined below) prior to the Payment Date) at the market rate determined by the
Exchange Rate Agent to accomplish the conversion on that Payment Date of the
aggregate amount of the Specified Currency payable on this Note (and any other
Note with similar terms and bearing the same CUSIP number) to be converted into
U.S. dollars. "New York Business Day" means any day, other than a Saturday or
Sunday, that is neither a legal holiday nor a day on which commercial banks are
authorized or required by law, regulation or executive order to close in The
City of New York. All currency exchange costs will be borne by the Holder hereof
by deductions from such U.S. dollar payments.

         Except as set forth below, if any payment in respect hereof is required
to be made in a Specified Currency other than U.S. dollars and such currency is
unavailable to the Company due to the imposition of governmental exchange
controls or other circumstances beyond the Company's control or is no longer
used by the government of the country issuing such currency (unless replaced by
the Euro) or for the settlement of transactions by public institutions of or
within the international banking community, then such payment shall be made in
U.S. dollars until such currency is again available to the Company or so used.
In the event of such unavailability of the Specified Currency, the Company will
be entitled to satisfy its obligations to the Holder by making payments in U.S.
dollars on the basis of the Market Exchange Rate (as defined below), computed by
the Exchange Rate Agent, on the second Business Day prior to the particular
payment or, if the Market Exchange Rate is not then available, on the basis of
the most recently available Market Exchange Rate. The "Market Exchange Rate" for
a Specified Currency other than U.S. dollars means the noon dollar buying rate
in The City of New York for cable transfers for the Specified Currency as
certified for customs purposes (or, if not so certified, as otherwise
determined) by the

                                       3
<PAGE>

Federal Reserve Bank of New York. Any payment in respect of this Note made in
U.S. dollars under such circumstances will not constitute an Event of Default
under the Indenture.

         All determinations made by the Exchange Rate Agent will be at its sole
discretion (except to the extent expressly provided that any determination is
subject to approval by the Company) and, in the absence of manifest error, will
be conclusive for all purposes and binding on the Holder of this Note, and the
Exchange Rate Agent will have no liability therefor.

                  If the principal of and any interest and premium, if any, on
this Note is payable in a Specified Currency other than U.S. dollars and the
issuing country of such Specified Currency becomes a Participating Member State
(as defined below), then the Company may, solely at its option and without the
consent of the Holder of this Note or the need to amend the Indenture or this
Note, on any Interest Payment Date occurring after the date on which such
country has become a Participating Member State (such Interest Payment Date, a
"Redenomination Date"), redenominate this Note into Euro upon the giving of not
less than 30 days' notice thereof to the Holder of this Note, which notice shall
set forth the manner in which such redenomination shall be effected. If the
Company elects to redenominate this Note, the election to redenominate will have
effect as follows:

                  1.       the Specified Currency will be deemed to be
redenominated in such amount of Euro as is equivalent to its denomination or the
amount of interest so specified in the Specified Currency at the Fixed
Conversion Rate (as defined below) adopted by the Council of the European Union
for the Specified Currency, rounded down to the nearest Euro 0.01;

                  2.       after the Redenomination Date, all payments in
respect of this Note, other than payments of interest in respect of periods
commencing before the Redenomination Date, will be made solely in Euro as though
references in this Note to the Specified Currency were to Euro. Payments will be
made in Euro by credit or transfer to a Euro account (or any other account to
which Euro may be credited or transferred) specified by the Holder, or at the
option of the Holder, by a Euro cheque;

                  3.       if interest hereon for any period ending on or after
the Redenomination Date is required to be calculated for a period of less than
one year, it will be calculated on the basis of the applicable fraction
specified herein; and

                  4.       such other changes shall be made to the terms of this
Note as the Company may decide, after consultation with the Trustee, and as may
be specified in the notice, to conform them to conventions then applicable to
debt securities denominated in Euro or to enable this Note to be consolidated
with other notes, whether or not originally denominated in the Specified
Currency or Euro. Any such other changes will not take effect until after they
have been notified to the Holder.

         The definition of Business Day that shall apply for payments on or in
respect hereof following any redenomination hereof and for all other purposes
under this Note and under the Indenture shall be (A) the business day definition
for fixed rate Euro-denominated debt obligations issued in the Euromarkets and
held in international clearing systems which are consistent with existing or
anticipated market practices as determined by the Company or (B) if no such
business day definition is so determined, the definition of business day which
applied to this Note before redenomination or (C) if the Company would be unable
to make payments on this Note on the date that payment is expressed to be due if
(B) above were to apply, such other business day definition as is determined by
the Company.

                                       4
<PAGE>

         "Fixed Conversion Rate" with respect to any Specified Currency means
the irrevocably fixed conversion rate between the Euro and such Specified
Currency adopted by the Council of the European Union according to Article 109
(4), first sentence, of the Treaty of Rome (as defined below).

         "Participating Member State" means a member state of the European Union
that adopts the Euro in accordance with the Treaty of Rome.

         "Treaty of Rome" means the Treaty of Rome of March 25, 1957, as amended
by the Single European Act of 1986 and the Maastricht Treaty (as defined below),
establishing the European Community, as amended from time to time.

         "Maastricht Treaty" means the Treaty on European Union which was signed
in Maastricht, the Netherlands, on February 1, 1992 and came into force on
November 1, 1993.

         Except as provided herein with respect to the redenomination of this
Note into Euro, the occurrence or non-occurrence of an EMU Event (as defined
below) or the entry into force of any law, regulation, directive or order
requiring redenomination to be undertaken on terms different than those
described herein, will not have the effect of altering any term of, or
discharging or excusing performance under, the Indenture or this Note nor give
the Company, the Trustee or the Holder of this Note, the right unilaterally to
alter or terminate the Indenture or this Note or give rise to any Event of
Default or otherwise be the basis for any acceleration, early redemption,
rescission, notice, repudiation, adjustment or renegotiation of the terms of the
Indenture or this Note. The occurrence or non-occurrence of an EMU Event will be
considered to occur automatically pursuant to the terms of this Note. For
purposes hereof, "EMU Event" means any event associated with the Economic
Monetary Union as contemplated by the Treaty of Rome in the European Community,
including, without limitation, each (and any combination) of (i) the fixing of
exchange rates between the currency of a Participating Member State and the Euro
or between the currencies of Participating Member States; (ii) the introduction
of the Euro as lawful currency in a Participating Member State; (iii) the
withdrawal from legal tender of any currency that, before the introduction of
the Euro, was lawful currency in any of the Participating Member States; or (iv)
the disappearance or replacement of a relevant rate option or other price source
for the national currency of any Participating Member States, or the failure of
the agreed price or rate sponsor or screen provider (or any successor thereof)
to publish or display a relevant rate, index, price, page or screen.

         In the event that the issuing country of the Specified Currency, or, in
the case of the Euro, the European Union, officially redenominates the Specified
Currency into, or replaces it with, a currency other than the Euro, then the
Company's obligations with respect to payments on this Note shall be deemed,
immediately following such redenomination, to provide for payment of that amount
of redenominated currency representing the amount of the Company's obligations
immediately prior to such redenomination (by application of the fixed conversion
rate adopted for such purpose by such country, or the European Union, as the
case may be). Except as set forth above, in no event shall any adjustment be
made to any amount payable with respect to this Note as a result of any change
in the value of the Specified Currency relative to any other currency due solely
to fluctuations in exchange rates.

         This Medium-Term Note, Series I (collectively, the "Notes") is one of a
duly authorized issue of debt securities (hereinafter called the "Securities")
of the Company issued and to be issued under an Indenture dated as of May 1,
1999 (herein called the "Indenture") between the Company

                                       5
<PAGE>

and Citibank, N.A., as Trustee (herein, the "Trustee", which term shall include
any successor trustee under the Indenture), to which Indenture and all
indentures supplemental thereto and the Officers' Certificate setting forth the
terms of this series of Securities, reference is hereby made for a statement of
the respective rights, limitations of rights, duties and immunities thereunder
of the Company, the Trustee and the Holders and the terms upon which the Notes
are, and are to be, authenticated and delivered. The Notes may bear different
dates, mature at different times, bear interest at different rates, be subject
to different redemption or repayment provisions and may otherwise vary, all as
provided in the Indenture and in such Officers' Certificate.

         Any provision contained herein with respect to the calculation of the
rate of interest applicable to this Note, its Interest Payment Dates, the Stated
Maturity, the Specified Currency, any redemption or repayment provisions, or any
other matter relating hereto may be modified as specified in an Addendum
relating hereto if so specified on the first page hereof or as set forth under
"Other Provisions" if so set forth on the first page hereof.

         If an Event of Default with respect to the Notes shall occur and be
continuing, the principal of all the Notes may become due and payable in the
manner and with the effect and subject to the conditions provided in the
Indenture.

         Subject to certain exceptions, the Indenture permits the Company and
the Trustee to enter into one or more supplemental indentures, with the consent
of the Holders of a majority in aggregate principal amount of the Outstanding
Securities of each series to be affected by such supplemental indentures, for
the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of the Indenture or of modifying in any manner the rights
of the Holders of Securities of such series. The Indenture also permits the
Holders of a majority in aggregate principal amount of the Outstanding
Securities of any series, on behalf of the Holders of all of the Securities of
such series, to waive compliance by the Company with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holder of this Note shall be conclusive and
binding upon such Holder and upon all future Holders of this Note and of any
Note issued upon the registration of transfer hereof or in exchange herefor or
in lieu hereof whether or not notation of such consent or waiver is made upon
this Note.

         No reference herein to the Indenture and no provision of this Note or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of, premium, if any, and
interest on this Note at the times, places, and rate, and in the coin or
currency, herein prescribed.

         If so provided on the first page of this Note, this Note may be
redeemed by the Company prior to its Stated Maturity on and after the Initial
Redemption Date, if any, specified on the first page hereof (the "Redemption
Date"). If no Initial Redemption Date is set forth on the first page hereof,
this Note may not be redeemed at the option of the Company prior to the Stated
Maturity. On and after the Initial Redemption Date, if any, this Note may be
redeemed at any time in whole or from time to time in part in increments of
$1,000 (or such other denomination as may be indicated herein), provided that
any remaining principal amount shall be an authorized denomination, at the
option of the Company at the applicable Redemption Price (as defined below)
together with interest thereon payable to the Redemption Date, on written notice
given to the Holder hereof not more than 60 nor less than 30 days prior to the
Redemption Date. In the event of

                                       6
<PAGE>

redemption of this Note in part only, a new Note for the unredeemed portion
hereof shall be issued in the name of the Holder hereof upon the surrender
hereof.

         If applicable, the "Redemption Price" shall initially be the Initial
Redemption Percentage, specified on the first page hereof, of the principal
amount of this Note to be redeemed and shall decline at each anniversary of the
Initial Redemption Date by the Annual Redemption Percentage Reduction, if any,
specified on the first page hereof, of the principal amount to be redeemed until
the Redemption Price is 100% of such principal amount.

         If so provided on the first page of this Note, this Note will be
subject to repayment at the option of the Holder hereof prior to its Stated
Maturity on the Optional Repayment Date(s), if any, indicated on the first page
hereof. If no Optional Repayment Date is set forth on the first page hereof,
this Note will not be repayable at the option of the Holder hereof prior to the
Stated Maturity. On any Optional Repayment Date, this Note will be repayable in
whole or in part in increments of $1,000 (or such other denomination as may be
indicated herein), provided that any remaining principal amount shall be an
authorized denomination, at the option of the Holder hereof at a repayment price
equal to 100% of the principal amount to be repaid, together with interest
thereon payable to the Optional Repayment Date, on notice given by such Holder
and received by the Company not more than 60 nor less than 30 days prior to the
Optional Repayment Date. In the event of repayment of this Note in part only, a
new Note for the portion hereof not repaid shall be issued in the name of the
Holder hereof upon the surrender hereof. Any such notice shall be delivered to
the office or agency of the Company maintained for such purpose in the Borough
of Manhattan, The City of New York, and shall be duly executed by the Holder
hereof or by his attorney duly authorized in writing. Such notice shall consist
of this Note with the form set forth below entitled "Option to Elect Repayment"
duly completed. Such notice duly received by the Company shall be irrevocable.
All questions as to the validity, form, eligibility (including time of receipt)
and acceptance of any Note for repayment will be determined by the Company,
whose determination will be final and binding.

         This Note is not subject to any sinking fund.

         As provided in the Indenture, and subject to certain limitations set
forth therein and on the first page hereof, the transfer of this Note may be
registered on the Security Register of the Company upon surrender of this Note
for registration of transfer at the office or agency of the Company maintained
for such purpose in the Borough of Manhattan, The City of New York, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the
Holder hereof or by his attorney duly authorized in writing, and thereupon one
or more new Notes having the same terms as this Note, of authorized
denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees.

         The Notes are issuable only in registered form without coupons in
denominations of $1,000 and integral multiples thereof (or such other
denomination as may be indicated herein). As provided in the Indenture and
subject to certain limitations therein or herein set forth, this Note is
exchangeable for a like aggregate principal amount of Notes having the same
terms as this Note, of different authorized denominations, as requested by the
Holder surrendering the same. If (i) the Depository is at any time unwilling or
unable to continue as depository and a successor depository is not appointed by
the Company within 90 days, (ii) the Company executes and delivers to the
Trustee a Company Order to the effect that this Note shall be exchangeable or
(iii) an Event of

                                       7
<PAGE>

Default has occurred and is continuing with respect to the Notes, this Note
shall be exchangeable for Notes in definitive form of like tenor and of an equal
aggregate principal amount, in authorized denominations. Such definitive Notes
shall be registered in such name or names as the Depository shall instruct the
Trustee. If definitive Notes are so delivered, the Company may make such changes
to the form of this Note as are necessary or appropriate to allow for the
issuance of such definitive Notes.

         No service charge will be made for any registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

         Prior to due presentment of this Note for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Note is registered as the owner hereof for all
purposes, whether or not this Note be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

         All capitalized terms used in this Note but not defined in this Note
which are defined in the Indenture shall have the meanings assigned to them in
the Indenture; and all references in the Indenture to "Security" or "Securities"
shall be deemed to include the Notes.

         This Note, including the validity hereof, and the Indenture shall be
governed by and construed in accordance with the laws of the State of New York.

         Unless the certificate of authentication hereon has been executed by or
on behalf of Citibank, N.A., the Trustee for this Note under the Indenture, or
its successor thereunder, by the manual signature of one of its authorized
officers, this Note shall not be entitled to any benefit under the Indenture or
be valid or obligatory for any purpose.

                                       8
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed, manually or in facsimile, and a facsimile of its corporate seal to be
imprinted hereon.

                                    AMERICAN GENERAL FINANCE
                                           CORPORATION

[Seal]
                                    By:________________________________________
                                          Bryan A. Binyon
                                          Vice President and Treasurer

                                    By:________________________________________
                                          David M. McManigal
                                          Assistant Treasurer
         Date:

TRUSTEE'S CERTIFICATE OF AUTHENTICATION:
This is one of the Securities of the series designated
herein referred to in the within-mentioned Indenture.

         Citibank, N.A.
         as Trustee

By:______________________________________
         Authorized Signatory

                                       9
<PAGE>

                            OPTION TO ELECT REPAYMENT

         The undersigned hereby irrevocably request(s) and instruct(s) the
Company to repay this Note (or portion hereof specified below) pursuant to its
terms at a price equal to the principal amount hereof, together with interest to
the repayment date, to the undersigned, at

PLEASE INSERT SOCIAL SECURITY OR OTHER
     IDENTIFYING NUMBER
_______________________________________________________________________________

_______________________________________________________________________________

        (Please Print or Typewrite Name, Address and Telephone Number of the
Undersigned)

         For this Note to be repaid, the Trustee must receive at its Corporate
Trust Office, or at such other place or places of which the Company shall from
time to time notify the Holder of this Note, not more than 60 nor less than 30
days prior to an Optional Repayment Date, if any, shown on the face of this
Note, this Note with this "Option to Elect Repayment" form duly completed. This
Note and notice must be received by the Trustee by 5:00 P.M., New York City
time, on the last day for giving such notice.

         If less than the entire principal amount of this Note is to be repaid,
specify the portion hereof (which shall be $1,000 or an integral multiple of
$1,000, or such other denomination as may be indicated on the face of the Note)
which the Holder elects to have repaid: ______________________ and specify the
denomination or denominations (which shall be $1,000 or an integral multiple of
$1,000, or such other denomination as may be indicated on the face of the Note)
of the Note or Notes to be issued to the Holder for the portion of this Note not
being repaid (in the absence of any such specification, one such Note will be
issued for the portion not being repaid): ______________________.

Dated:_____________________         ___________________________________________
                                    NOTICE: The signature on this Option to
                                    Elect Repayment must correspond with the
                                    name as written upon the face of this Note
                                    in every particular, without alteration or
                                    enlargement or any change whatever.

                                       10
<PAGE>

                                   ASSIGNMENT

FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and transfer(s)
unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
     IDENTIFYING NUMBER OF ASSIGNEE

_______________________________________________________________________________

_______________________________________________________________________________
 (Please Print or Typewrite Name, Address and Telephone Number of the Assignee)

_______________________________________________________________________________

the within Note and all rights thereunder, hereby irrevocably constituting and
appointing __________________________ attorney to transfer said Note on the
books of the Company, with full power of substitution in the premises.

Dated:_______________________       ____________________________________________

                                    NOTICE: The signature on this assignment
                                    must correspond with the name as written
                                    upon the face of the within instrument in
                                    every particular, without alteration or
                                    enlargement or any change whatever.

                                       11

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