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AIG ISSUES SERIES C PREFERRED TO TRUST FOR THE SOLE BENEFIT OF THE U.S. TREASURY
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NEW YORK--Mar. 5, 2009-- American International Group, Inc. (AIG) today announced that on March 4, 2009, it issued 100,000 shares of Series C Perpetual, Convertible, Participating Preferred Stock to the AIG Credit Facility Trust, a trust established for the sole benefit of the United States Treasury. This issuance results in a change of control of AIG, as the Series C Preferred Stock holds approximately 77.9 percent of the aggregate voting power of the AIG common stock, treating the Series C Preferred Stock as converted.

As noted in the company’s most recent Annual Report on Form 10-K, the shares of Series C Preferred Stock were issued pursuant to the Series C Perpetual, Convertible, Participating Preferred Stock Purchase Agreement, dated as of March 1, 2009, between the Trust and AIG, and in accordance with the Credit Agreement, dated as of September 22, 2008, between AIG and the Federal Reserve Bank of New York.

More information on the Series C Preferred Stock can be found in the company’s Annual Report on Form 10-K, filed on Monday, March 2, 2009, and available at: www.aig.com.

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.

American International Group, Inc.
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Teri L. Watson, 212-770-7074
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Christina Pretto, 212-770-7083