|AIG TO SELL ITS REMAINING SHARES IN TRANSATLANTIC HOLDINGS|
NEW YORK, Mar 05, 2010 -- American International Group, Inc. (AIG) today announced its intention to sell in a public offering the remaining 9,192,662 million shares of common stock of Transatlantic Holdings, Inc. (TRH) owned by American Home Assurance Company (AHAC), an AIG subsidiary. AHAC currently intends to commence such an offering on or prior to March 9, 2010, concurrent with TRH's addition to the S&P Midcap 400 Index. AHAC intends to have a portion of the total shares offered reserved for purchase by index funds.
AHAC's current ownership position of 9,192,662 common shares of TRH represents approximately 13.8 percent of TRH's common shares issued and outstanding.
Upon commencement of any offering, questions regarding the offering may be directed to Goldman, Sachs & Co and Wells Fargo Securities. A copy of the prospectus and prospectus supplement relating to the underwritten offering may be obtained when they are available from Kathleen E. Shannon, Corporate Secretary, American International Group, Inc., 70 Pine Street, New York, NY 10270, telephone: 212-770-5123.
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.
AIG is a leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services around the world. AIG 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.