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AIG ANNOUNCES SECONDARY OFFERING OF ITS SHARES IN TRANSATLANTIC HOLDINGS, INC.
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NEW YORK--May 28, 2009-- American International Group, Inc. (AIG) announced that Transatlantic Holdings, Inc. (NYSE: TRH) has filed a preliminary prospectus supplement with the U.S. Securities and Exchange Commission with respect to the proposed public offering of 26 million shares of TRH common stock owned by AIG and its subsidiaries in an underwritten offering. The underwriters will have a 30-day option to purchase up to an additional 15 percent of the offered amount of TRH common stock from AIG and its subsidiaries. TRH will not sell any shares in the offering.

AIG and its subsidiaries currently own approximately 39.1 million shares of TRH common stock, or approximately 59 percent of the outstanding shares. Following the offering, AIG and its subsidiaries will own approximately 19.7 percent of the outstanding shares, or 13.9 percent if the underwriters’ option is fully exercised.

J.P. Morgan, Goldman, Sachs & Co., and Morgan Stanley are joint book-running managers with Lazard Capital Markets as co-lead underwriter. Dowling & Partners and Fox-Pitt Kelton Cochran Caronia Waller are acting as co-managers of the offering.

The offering is being made only by means of a prospectus supplement and accompanying prospectus, copies of which are available for review at www.sec.gov. Alternatively, those documents may be obtained by contacting: J.P. Morgan Securities, Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Department, 718-242-8002; Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad Street, New York, NY 10004, telephone: 212-902-1171 or 866-471-2526, fax: 212-902-9316, email: Prospectus-ny@ny.email.gs.com; or Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: (866) 718-1649, email: prospectus@morganstanley.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be a sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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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