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AIG TO COMBINE ITS CONSUMER FINANCE OPERATIONS IN POLAND WITH SANTANDER'S POLISH CONSUMER FINANCE BUSINESS
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AIG To Receive In Exchange a 30% Stake In Santander's Polish Company

NEW YORK--Jul. 29, 2009-- American International Group, Inc. (AIG) today announced that it has entered into an agreement under which it will combine its consumer finance business in Poland, conducted through AIG Bank Polska S.A., into the Polish consumer finance business of Santander Consumer Finance S.A., which is conducted through Santander Consumer Bank, S.A. (SCB). In exchange, AIG will receive a 30% equity interest in SCB. At closing, all of the AIG intercompany debt facilities related to these entities will be repaid, and AIG will not be responsible for the future funding of the combined consumer finance businesses. Terms of the transaction were not disclosed.

The transaction is subject to the satisfaction of certain conditions, including approvals by the Polish Financial Supervision Commission and clearance by competition authorities.

Deutsche Bank AG acted as financial advisor and Dewey & LeBoeuf served as legal counsel to AIG on this transaction.

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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