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AIG LIFE INSURANCE COMPANY OF CANADA COMPLETES ACQUISITION OF HARTFORD LIFE INSURANCE COMPANY OF CANADA

NEW YORK, October 5, 1999 – AIG Life Insurance Company of Canada (AIG Life of Canada), a subsidiary of American International Group, Inc. (AIG), has completed its purchase of Hartford Life Insurance Company of Canada (Hartford Life of Canada) and has taken up all shares validly delivered under its September 3, 1999 offering (totaling approximately 99 percent of the issued and outstanding shares).

Immediately following the purchase, Hartford Life of Canada and AIG Life of Canada were amalgamated, resulting in a single company which will operate as AIG Life Insurance Company of Canada. AIG Life of Canada is headquartered in Toronto and also has offices in Burlington. It sells universal life, term, critical illness, accident and health, segregated funds, and employee benefits products, as well as group funeral annuity products.

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