The American Film Institute will present Dustin Hoffman, 61, with one of the industry's highest honors. The Academy Award-winning actor will receive the 1999 AFI Life Achievement Award during a tribute Feb. 18 in Los Angeles. Hoffman's film credits include "Wag the Dog," "The Graduate," "Kramer vs. Kramer," "Rain Man," "Midnight Cowboy," and"Tootsie." He joins a prestigious list of motion picture greats who have received the honor, including Frank Capra, Alfred Hitchcock, James Stewart, James Cagney, Bette Davis, Jack Nicholson and Fred Astaire.