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NEW YORK, October 18, 2001 - American International Group, Inc. (AIG) and the Eureko Alliance (comprised of Eureko and EurAPCo) have announced that they have entered into a joint agreement to market and service multinational employee benefits programs worldwide.

Under the agreement, AIG subsidiaries and Eureko Alliance members will market their combined multinational benefits capabilities. The companies have agreed to jointly staff an office in Zurich, Switzerland and will also establish joint distribution outlets and share administrative services.

“The Eureko Alliance fits perfectly with our goal of providing the most extensive global benefits network with truly outstanding country capabilities,” said Gregory Arms, Director, AIG Group Management Division. “This new partnership allows us to provide our clients with complete employee benefits solutions throughout Western Europe, extending our global benefits network to more than 100 countries. We are very excited to work with the Eureko Alliance to offer these expanded capabilities.”

“Through our new cooperation with AIG we will be in a position to give all our clients access to global solutions for their employee benefits needs. Together we will not only have the largest pooling network in the world but we will also be the only one with a pre-eminent market position in Europe, the United States and Asia,” said Albert Lauper, Chairman of EurAPCo, the company in charge of joint activities within the Eureko Alliance.

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AIG is the leading U.S.-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial, personal and life insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG's global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. American International Group, Inc.'s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

The Eureko Alliance was established in 1992 by some of Europe's leading insurers as a vehicle for international development through the formation of partnerships. The shareholders of EurAPCo are Eureko B.V. registered in The Netherlands, Friends Provident in Great Britain, LF Group in Sweden, MAAF Assurances in France, Parion in Germany, Swiss Mobiliar in Switzerland, Topdanmark in Denmark -the EurAPCo shareholders- form the Eureko Alliance. Eureko B.V. has subsidiaries and investments in nine countries including The Benelux, Portugal, Ireland, Greece, Poland and Slovakia.

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