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AIG ANNOUNCES SIX NEW INDEPENDENT DIRECTOR NOMINEES TO STAND FOR ELECTION AT 2009 ANNUAL MEETING
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NEW YORK--May 19, 2009-- American International Group, Inc. (AIG) announced today that six new independent Director nominees will stand for election at the AIG 2009 Annual Meeting of Shareholders scheduled to be held on June 30, 2009. The six new nominees are Harvey Golub, Laurette T. Koellner, Christopher S. Lynch, Arthur C. Martinez, Robert S. (Steve) Miller and Douglas M. Steenland. The slate of candidates that will stand for election will reconfigure the Board to include a majority of new independent Directors.

“The six new candidates standing for election are outstanding individuals with excellent leadership and business backgrounds. The new candidates have extensive experience with large complex organizations and in the areas of financial services, accounting and restructuring,” said Edward M. Liddy, AIG’s Chairman and Chief Executive Officer. “The AIG Board worked closely with the Trustees of the AIG Credit Facility Trust in the nomination process and adding these individuals to the AIG Board will help AIG achieve its goals of maximizing the value of AIG’s core businesses and repaying U.S. taxpayers. The AIG Board will continue its commitment to responsible governance practices and the protection of the interests of shareholders, policyholders and other stakeholders.”

Background and experience of the new independent Director nominees follows:

Harvey Golub

Mr. Golub, 70, was Chairman and Chief Executive Officer of American Express Company from 1993 to 2001. Mr. Golub joined American Express in 1984 as President and Chief Executive Officer of IDS Financial Services. Prior to joining American Express, Mr. Golub was a senior Partner with McKinsey & Co. Mr. Golub is the Non-Executive Chairman of Ripplewood Holdings, a private equity firm based in New York. He serves as Non-Executive Chairman of the Board of Campbell Soup Company and The Reader’s Digest Association. He is also a director of RHJ International, a public investment company based in Belgium. Mr. Golub also serves on the Boards of the Lincoln Center for the Performing Arts, the American Enterprise Institute, and the New York Presbyterian Hospital, and as a member of the Advisory Board of Miller Buckfire & Co., LLC. Previously, Mr. Golub has served on the Board of Dow Jones & Company and several private companies.

Laurette T. Koellner

Mrs. Koellner, 54, is a retired Senior Vice President of The Boeing Company and the retired president of Boeing International. Prior to that, she was President of Connexion by Boeing. Mrs. Koellner also served as Executive Vice President and a member of The Boeing Company Office of the Chairman, Chief Human Resources Officer, Chief Administration Officer, Executive Vice President of Internal Services, Corporate Controller and Vice President of Internal Audit. Mrs. Koellner is a member of the University of Central Florida Dean's Executive Council, and a member of the Council on Foreign Relations. She holds a Bachelor of Science degree in Business Management from the University of Central Florida and a Masters of Business Administration from Stetson University in Deland, Florida. Mrs. Koellner is a Director of Sara Lee Corporation, as well as Celestica Inc.

Christopher S. Lynch

Mr. Lynch, 51, is an independent consultant providing a variety of services to financial intermediaries, including risk management, strategy, governance, financial and regulatory reporting and troubled-asset management. Prior to retiring from KPMG LLP in 2007, Mr. Lynch held a variety of positions with KPMG, including National Partner in Charge – Financial Services, the firm's largest industry division. He chaired KPMG's Americas Financial Services Leadership team, was a member of the Global Financial Services Leadership and the U.S. Industries Leadership teams, and led the Banking & Finance practice. He also served as a Partner in KPMG's Department of Professional Practice and as a Practice Fellow at the Financial Accounting Standards Board. Mr. Lynch was the Lead and audit signing Partner for some of KPMG's largest financial services clients. Mr. Lynch serves as a Director of the Federal Home Loan Mortgage Corporation (Freddie Mac).

Arthur C. Martinez

Mr. Martinez, 69, is the former Chairman of the Board, President and Chief Executive Officer of Sears, Roebuck and Co. He served as Chairman of the Board, President and Chief Executive Officer of Sears, Roebuck and Co. from 1995 until 2000. Mr. Martinez was Chairman and Chief Executive Officer of the former Sears Merchandise Group from 1992 to 1995. He served as Vice Chairman and a Director of Saks Fifth Avenue from 1990 to 1992 and as Chairman of the Board of the Federal Reserve Bank of Chicago from 2000-2001 and as a Director from 1996-2002. Mr. Martinez is a Non-Executive Chairman of HSN, Inc. and a Director of Liz Claiborne, Inc., International Flavors and Fragrances, Inc., IAC/InterActiveCorp and PepsiCo, Inc. and is Chairman of the Supervisory Board of ABN AMRO Holding, N.V.

Robert S. (Steve) Miller

Mr. Miller, 67, is Executive Chairman of Delphi Corporation. He was previously Chairman and Chief Executive Officer of Delphi Corporation. Prior to joining Delphi, Mr. Miller served as Chairman of Federal-Mogul, Inc., an auto parts supplier based in Southfield, Michigan. Prior to that, Mr. Miller served in a number of corporate restructuring situations, including as Chairman and Chief Executive Officer of Bethlehem Steel (2001-2003), Chairman and Chief Executive Officer of Federal-Mogul (2000-2001 and 2004-2005), Chairman and Chief Executive Officer of Waste Management (1997-1999), and Chairman of Morrison Knudsen (1995-1996). Before that, Mr. Miller had been Vice Chairman and Chief Financial Officer of Chrysler Corporation. Mr. Miller is a Director of Symantec Corporation and UAL Corporation (United Airlines).

Douglas M. Steenland

Mr. Steenland, 57, served as President and Chief Executive Officer of Northwest Airlines Corporation from October 2004 until October 2008 when Northwest Airlines and Delta Air Lines, Inc. merged. Mr. Steenland served as President of Northwest Airlines from April 2001 to October 2004. Prior to that, he served in a number of Northwest Airlines executive positions after joining Northwest Airlines in 1991, including Executive Vice President, Chief Corporate Officer. Prior to joining Northwest Airlines, Mr. Steenland was a senior partner at a Washington DC law firm that is now part of DLA Piper. He previously served as a Director of Northwest Airlines from 2001 to October 2008. Mr. Steenland is a Director of Delta Air Lines, Inc. and Digital River, Inc.

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.

Source: American International Group, Inc.

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