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NEW YORK, Dec 30, 2009 (BUSINESS WIRE) -- American International Group, Inc. (AIG) today announced that Anastasia Kelly, Vice Chairman for Legal, Human Resources, Corporate Affairs, and Corporate Communications, has resigned from the company, effective December 30.

Ms. Kelly resigned for "Good Reason" under the terms of AIG's Executive Severance Plan based on the reduction in her base salary that was mandated by the Special Master for Executive Compensation for TARP Recipients.

"On behalf of the management team, employees, and the Board of Directors, I would like to thank Stasia for her tireless service to the company," said Robert H. Benmosche, AIG President and Chief Executive Officer. "We are exceedingly grateful for the work she has done to help AIG recover from its financial crisis and the excellent counsel she has provided the company, often during very difficult times. We wish her well in her future endeavors."

In addition, AIG announced that Suzanne Folsom, Chief Compliance and Regulatory Officer, has left to pursue other opportunities.

"While serving as AIG's Vice President, Chief Regulatory and Compliance Officer and Deputy General Counsel, Mrs. Folsom worked diligently to strengthen the compliance, regulatory and governance framework of the company. Her efforts have put AIG on a better regulatory footing. AIG is grateful for her valuable contribution and wishes her much success in her future endeavors," Mr. Benmosche continued.

Mr. Benmosche said that AIG expects a smooth transition and has already initiated the process to identify successors to both Ms. Kelly and Ms. Folsom. In the interim, those individuals previously reporting to Ms. Kelly will report to Mr. Benmosche.

Ms. Kelly joined AIG in September 2006 as General Counsel, responsible for the global legal, compliance and regulatory functions. She was promoted to Vice Chairman earlier this year.

Ms. Folsom joined AIG in April 2008.

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.

American International Group, Inc.
Christina Pretto (News Media)
Teri Watson (Investment Community)