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AIG SMALL BUSINESS(R) NAMES MCGOWAN & COMPANY, INC. AS ITS COMMUNITY ASSOCIATIONS PROGRAM ADMINISTRATOR
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NEW YORK--Aug. 21, 2007--AIG Small Business(R) (AIGSB), a division of the property-casualty insurance companies of American International Group, Inc. (AIG), announced today that it has named McGowan & Company, Inc. (McGowan) to serve as the program administrator for its Community Associations Program.

The Community Associations Program tailors directors & officers (D&O) and employment practices liability (EPL) insurance coverage to the needs of community associations and their respective board members.(1) This program covers associations including, but not limited to, condominium associations, homeowners associations, planned unit development, town home associations, cooperatives, timeshares, community associations with rental units, and commercial associations.

"McGowan's long standing presence in the homeowner and community associations industry makes them the ideal partner to team up with to grow our portfolio of community association insureds," said Vincent C. Tizzio, President of AIG Small Business.

"We are proud to have been selected by AIG Small Business as the program administrator for their D&O and EPL products for community associations. Our firm specializes in this industry, and the addition of AIG enables us to deliver financial solutions to our core market," said Thomas B. McGowan, IV, President and Chief Executive Officer of McGowan & Company, Inc.

For more information on the Community Associations Program, please contact McGowan & Company, Inc. at 1.800.545.1538, visit www.mcgowaninsurance.com or email Joel Meskin at jmeskin@mcgowaninsurance.com or Patty Satayathum at psatayathum@mcgowaninsurance.com.

For more information on other AIG Small Business products and services, please visit www.aigsmallbusiness.com, call 1.877.867.3783, or email aigsb@aig.com.

American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Paris, Switzerland and Tokyo.

(1) Insurance is underwritten by member companies of AIG, and is subject to underwriting review and approval. The description of coverages herein is a summary only. It does not include all terms, conditions and exclusions of the policies described. Please refer to the actual polices for complete details of coverage and exclusions. Coverage may not be available in all jurisdictions. Non-insurance products may be provided through independent third parties.

CONTACT:
American International Group, Inc.
Peter Tulupman, 212-770-3141
Manager of Public Relations