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New compensation solution provides benefits to top employees, protects employers' assets

HOUSTON--Sept. 11, 2007-- AIG American General announces the launch of AIG Corporate Investor, a variable universal life insurance product underwritten by American General Life Insurance Company (American General Life), a member company of American International Group, Inc. (AIG). The new product, which can be sold by all financial professionals appropriately licensed and appointed with American General Life, is designed for use with nonqualified deferred compensation plans that use either salary reduction or salary continuation techniques to fund benefits.

"Rolling out AIG Corporate Investor reaffirms our commitment to provide innovative solutions to our clients," said Gary Parker, executive vice president and chief product officer for AIG American General. "By tapping into the features of the product, top employees are rewarded with the opportunity to grow and protect their assets and earnings."

Features of the new product include high cash values in early policy years, no surrender charges and an overloan protection rider. Policyholders may choose from among 44 variable investment options(1) and one declared fixed-interest account.

AIG Corporate Investor also offers unique benefits to employers. Among the most notable:

  • A tool to attract, retain and reward key employees
  • Greater benefits than permitted under qualified plan rules
  • No need for prior IRS approval
  • Control of details to accommodate individual employee needs
  • Cash values accumulate tax-deferred (based on current federal income tax laws) to the employee if the plan is not formally funded
  • An income tax deduction when the benefits are paid

"Today's competitive business world can make it challenging for employers to attract and retain top talent," said Parker. "AIG Corporate Investor variable universal life is a creative compensation solution that employers can use to not only reward valuable employees but also provide immediate benefits for their companies."

For more information about AIG Corporate Investor variable universal life insurance or AIG American General visit www.aigag.com.

AIG Corporate Investor Policy Form Number 99301 issued by American General Life Insurance Company, a member company of American International Group, Inc., Houston, Texas The underwriting risks, financial obligations and support functions associated with the products issued by American General Life Insurance Company (American General Life) are its responsibility. American General Life is responsible for its own financial condition and contractual obligations. American General Life does not solicit business in the state of New York. Policies and riders not available in all states.

Variable universal life insurance policies issued by American General Life are distributed by American General Equity Services Corporation, member FINRA and a member company of American International Group, Inc.

AIG American General, www.aigag.com, is the marketing name for the insurance companies and affiliates comprising the domestic life operations of American International Group, Inc. (AIG), including American General Life Insurance Company.

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) Investment return and principal value of the variable options may fluctuate, so that an investor's units, when redeemed or borrowed against, may be worth more or less than their original cost. Consult fund prospectuses for information on currently available funds.

AIG American General
Cynthia Wieties, 713-831-3127
Vice President, Corporate Communications and Community Relations