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NEW YORK--Sept. 18, 2008--American International Group, Inc. (AIG) today announced that its Board of Directors has elected Edward M. Liddy Chairman and Chief Executive Officer. Mr. Liddy, 62, succeeds Robert B. Willumstad. Stephen F. Bollenbach, who was named lead independent director in June 2008, continues in that role.

Mr. Liddy joined the private equity firm of Clayton, Dubilier & Rice, Inc. this year after serving as Chairman of The Allstate Corporation since January 2007. Prior to that, he was Allstate Chairman and Chief Executive Officer from 1999 until 2006 and President and Chief Operating Officer from 1994 until 1998. He led the initial public offering and 1995 spin-off of Allstate from Sears, Roebuck and Co. At Sears, Mr. Liddy served as Senior Vice President and Chief Financial Officer and as Senior Vice President-Operating. Prior to that, Mr. Liddy was Chief Financial Officer of G. D. Searle & Co. Mr. Liddy is Chairman Emeritus of Northwestern Memorial Hospital and serves on the boards of Northwestern University and the Museum of Science and Industry. He is a Life Trustee and former national Chairman of the Boys & Girls Clubs of America. He holds a B.A. from Catholic University of America and an M.B.A. from George Washington University.

American International Group, Inc. (AIG), a world leader 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 Ireland and Tokyo.

Nick Ashooh (News Media)

Charlene Hamrah (Investment Community)