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NEW YORK, Mar 08, 2010 -- American International Group, Inc. (AIG) today announced that it has commenced its secondary public offering of 9,192,662 shares of common stock of Transatlantic Holdings, Inc. (TRH) owned by American Home Assurance Company (AHAC), a wholly-owned AIG subsidiary, which includes shares that will be subject to a 30-day overallotment option.

The offering is concurrent with TRH's addition to the S&P Midcap 400 Index. Index funds whose portfolios are primarily based on stocks included in the S&P Midcap 400 Index may be required to purchase shares as a result of the inclusion of TRH's common shares in the index. The offering is intended to be marketed to these index funds and to other investors, including non-index active investors. A portion of the total shares offered will be allocated to index funds.

AHAC, TRH and Goldman, Sachs & Co., Wells Fargo Securities and BofA Merrill Lynch, the underwriters of the offering, have entered into an agreement under which TRH will purchase two million of the shares owned by AHAC as part of the offering, at a price per share based on the offering price of the public offering.

Questions regarding the offering may be directed to Goldman, Sachs & Co., Wells Fargo Securities and BofA Merrill Lynch. A shelf registration statement relating to the offering of TRH common shares has previously been filed with the U.S. Securities and Exchange Commission (SEC) and has become effective. The offering is being made only by means of a prospectus supplement and accompanying prospectus, forming an effective part of the registration statement. A prospective investor should read the prospectus supplement and the accompanying prospectus for more complete information about TRH, AIG and AHAC and this offering. When available, this document may be obtained at no cost by visiting EDGAR on the SEC website at www.sec.gov.

Alternatively, copies of those documents may be obtained by contacting Kathleen E. Shannon, Corporate Secretary, American International Group, Inc., 70 Pine Street, New York, NY 10270, telephone: 212-770-5123, or by contacting 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 Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, telephone: 800-326-5897, email: equity.syndicate@wachovia.com or BofA Merrill Lynch, Attention: Preliminary Prospectus Department, 4 World Financial Center, New York, NY 10080, email: prospectus.requests@ml.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.

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.
Lauren Day (News Media)
Teri Watson (Investment Community)