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AIG’S LEXINGTON INSURANCE COMPANY APPOINTS JOHN IANNUCCI PRESIDENT
NEW YORK, January 20, 1998 - Lexington Insurance Company, a member company of American International Group, Inc. (AIG), has announced that it has appointed John F. Iannucci President and Chief Operating Officer. Lexington Insurance Company, based in Boston, is the leading U.S.-based excess and surplus lines carrier.

Mr. Iannucci will work with Kevin H. Kelley, Chairman and Chief Executive Officer of Lexington, on day-to-day operations and the development and implementation of strategies. He joins Lexington with over 20 years experience in the surplus lines insurance industry. He was most recently Executive Vice President and Director of Gryphon Holdings, Inc., and President and Chief Executive Officer of Associated International Insurance Company and Calvert Insurance Company, subsidiaries of Gryphon Holdings. Before joining Gryphon Holdings, Mr. Iannucci ran the Specialty Division of Northland Insurance Company.

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AIG is the leading U.S.-based international insurance organization and among the largest underwriters of commercial and industrial insurance in the United States. Its member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services businesses. 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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