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AIG'S AMERICAN LIFE INSURANCE COMPANY NAMES MARK STEINBERG CHIEF OPERATING OFFICER

AIG'S AMERICAN LIFE INSURANCE COMPANY NAMES MARK STEINBERG CHIEF OPERATING OFFICER

NEW YORK, February 13, 2001 - American Life Insurance Company (ALICO), a wholly owned subsidiary of American International Group, Inc. (AIG), has named Mark G. Steinberg its Chief Operating Officer. Mr. Steinberg will be responsible for managing day-to-day operations and developing growth strategies for ALICO, which operates in more than 50 countries worldwide through a network of agencies, branches, subsidiaries and affiliates and some 24,000 agents and brokers. He will be based in ALICO's Wilmington, Delaware worldwide headquarters, and report to R. Kendall Nottingham, AIG Executive Vice President-Life Insurance and Chairman and CEO of ALICO.
Mr. Steinberg joins ALICO with nearly twenty years experience in the financial services industry. He was most recently Managing Director of Allmerica Financial, where he was founding executive of Allmerica Select, which provides a complete line of variable annuity and life products. Prior to that, he was Senior Vice President and Director, Financial Institutions Division at Putnam Financial Services, Inc. and before that Senior Vice President, Director of Corporate Development at Oppenheimer Management Corporation. Mr. Steinberg received his BBA degree from City University of New York, Baruch School of Business, and completed the Executive Program of the Dartmouth College Tuck School of Business.

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.

American Life Insurance Company (ALICO), incorporated in Delaware, is one of the largest international life insurance companies in the world, with more than $216.5 billion of life insurance in force as of December 31, 1999. ALICO's branches and subsidiaries market a broad range of insurance products including universal life, variable life, traditional whole life, endowments and annuities, interest sensitive and variable unit linked life and annuities, individual and group pensions as well as a full array of employee benefits and personal accident products. ALICO holds the highest financial strength ratings from Moody's (Aaa) and Standard & Poor's (AAA).