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AIG EXCESS CASUALTY DIVISION INTRODUCES COMMUNICATIONS COVERAGE FOR CUSTOMER CRISES

AIG EXCESS CASUALTY DIVISION INTRODUCES COMMUNICATIONS COVERAGE FOR CUSTOMER CRISES

NEW YORK, May 3, 2001 - American International Group, Inc. (AIG) has announced that AIG Excess Casualty, a division of the American International Companies, has introduced Excess Casualty B2B CrisisFund, an endorsement to its Umbrella Elite policy that offers crisis communications support to a named insured's customers.*
Excess Casualty B2B CrisisFund helps a named insured preserve its customer relationships when a crisis involving its goods, products or services may bring negative media attention to one of its customers.

“Even the finest companies make mistakes that have consequences for a valued customer, but this shouldn't necessarily erode the confidence and trust that they've worked hard to establish,” said Susan Rivera, President of American Home Assurance Company. “Excess Casualty B2B CrisisFund helps to preserve the business relationship between a named insured and its customer, while mitigating damages related to the crisis.”

Excess Casualty B2B CrisisFund provides the named insured up to $100,000 of coverage towards the services of a public relations firm to manage crisis communications on behalf of its customers. An additional $50,000 is also available through the Umbrella Elite's Excess Casualty CrisisFund coverage for the insured's own public relations expenses.

The coverage is triggered when an insured reports a casualty crisis event that threatens to result in a claim by a customer against the named insured for covered damages under the Umbrella Elite policy and significant adverse news media coverage of the named insured's customer. Covered casualty crisis events include, but are not limited to, explosions, major crashes, contamination of food, drink or pharmaceuticals, multiple deaths, or permanent paralysis, provided that any damages arising out of any of these events are covered by the Umbrella Elite policy.

AIG Excess Casualty has pre-approved a panel of leading public relations firms specializing in crisis communications that a customer can select to provide services in connection with a covered event. These firms are: Abernathy MacGregor Group; Edelman Public Relations Worldwide; Hill and Knowlton; Lexicon Communications; Robinson Lerer & Montgomery; Sard Verbinnen & Company; and Sitrick and Company. Additionally, Kroll Associates, a leading international crisis management and investigative consulting firm, has been pre-approved. Customers of the named insured may also retain another public relations firms not on the pre-approved panel.

For more information about Excess Casualty B2B CrisisFund, contact Tracey Amster at (212) 458-5807 or tracey.amster@aig.com.

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.

* 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 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.