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NEW YORK, July 28, 2000 - American International Group, Inc. (AIG) Chairman M.R. Greenberg has announced that Roberto R. Romulo has been named to the position of Chairman of AIG's Philam Insurance Company, Inc., the company's Philippine non-life insurance company and a sister company of The Philippine American Life and General Insurance Company (Philamlife), the largest life insurance company in the Philippines.

Mr. Romulo joins Philam Insurance Company from IBM, where he has had a 25-year career, including as General Manager of IBM Thailand Co. Ltd. and President of IBM Philippines, Inc. In addition, Mr. Romulo also served as Secretary of Foreign Affairs of the Philippines and as Philippine Ambassador to Belgium, Luxembourg and the European Community. He was recently appointed by The Association of Southeast Asian Nations (ASEAN) to head the e-ASEAN Task Force to draw up an action plan on how ASEAN member nations can participate in the global networked economy.

In his role as Chairman of Philam Insurance Company, Inc. Mr. Romulo will, among other duties, focus on possibilities for expanding AIG's Manila-based Regional IT Deployment Center, which provides information technology support for AIG operating units in Southeast Asia, to cover the entire Asia-Pacific region.

Commenting on Mr. Romulo's appointment, AIG Chairman M.R. Greenberg said, "AIG is fortunate to have Bobby Romulo joining our Philippine management team. With his extensive information technology background and senior-level government service record, he will bring important new capabilities to our operations in the Philippines, one of AIG's oldest markets. Our commitment to the Philippines dates back to 1947, when Philamlife was first established. Since that time, Philamlife has played a significant role in the development of the country and its life insurance industry. We have great confidence in the future of the Philippines and in the role AIG's companies there can play in that future."

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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 and personal 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.

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