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AIG’S AMERICAN INTERNATIONAL UNDERWRITERS ANNOUNCE SENIOR MANAGEMENT APPOINTMENTS

NEW YORK, September 14, 1999 – American International Underwriters (AIU), the international property-casualty insurance operation of American International Group, Inc. (AIG), has announced senior management appointments in its Commercial Lines Division. Joseph Smetana has been appointed Chairman, Commercial Lines Division, and Michael Sherman has been appointed President, Commercial Lines Division. Mr. Smetana joined AIG in 1974 as President of AIG Risk Management, Inc. (AIGRM). He became Chairman of AIGRM and President of AI Global in 1990 and was named President of the AIU Commercial Lines Division in 1992. He was elected AIG Vice President, Foreign General Insurance in 1995. As Chairman of the Commercial Lines Division, Mr. Smetana will focus on the maintenance and expansion of new and existing client and producer relationships.

Mr. Sherman joined AIG in 1992 as Regional Vice President, Financial Lines in AIU's U.K./Ireland Division, and he assumed the additional responsibility for Financial Lines in Europe for AIU in 1995. He was appointed Chief Operating Officer of AIG Europe (U.K.) Limited in 1998. In his new position, Mr. Sherman will be located in New York and will have executive management responsibility for AIU's worldwide commercial lines operations.

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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.