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NEW YORK – February 3, 1998 – American International Group, Inc. (AIG) has announced that the American International Companies have introduced Community Bank ProtectorSM, a program, designed for community banks, credit unions, and savings and loan institutions with assets of less than $1 billion, that combines management and professional liability insurance coverages into a single policy.*

Community Bank Protector enables the insured to select from Directors and Officers (D&O) Liability, Employment Practices Liability Insurance (EPLI); Banker's Professional Liability; Lender's Liability and ERISA Liability coverages. A Community Bank Fidelity Bond, that includes kidnap and ransom coverage, is also available. The Community Bank Protector coverages are available via a single application, which can help streamline policy application and renewal and simplify claims reporting. Additionally, a dedicated toll free number has been established for Community Bank Protector insureds to inquire about underwriting and claims.

Community Bank Protector is available with limits of liability of $25 million.

For more information on Community Bank Protector and the Community Bank Fidelity Bond, contact 1-888-239-2577 or E-mail at community.banks@aig.com.

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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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* The above described coverage may not be available in all states, and the above description thereof is neither a complete description nor a complete list of all terms, conditions and exclusions. Note that certain terms used in the above are defined in the policy. Please see the policy for a complete description of its scope and limitations of coverage. Issuance of coverage is subject to underwriting. Insurance is underwritten by member companies of American International Group, Inc.