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AIG'S AMERICAN HOME ASSURANCE COMPANY ANNOUNCES EXECUTIVE APPOINTMENTS

NEW YORK, June 28, 1999 - American International Group, Inc. (AIG) has announced that Susan Rivera has been named President of its American Home Assurance Company subsidiary and Roger J. Fries has joined American Home as President of its Workers' Compensation Division.

Ms Rivera, who has served as Executive Vice President and Chief Operating Officer of American Home since 1998, succeeds Larry D. Hollen, who has left the company. She joined AIG in 1987 in the Domestic Brokerage Group, where she held a number of actuarial positions. She later moved to AIG's National Union Fire Insurance Company of Pittsburgh, Pa., and in 1994 became Divisional Vice President of its Bank Insurance Division. In 1996 Ms. Rivera was named Senior Vice President of AIG Risk Finance. She is a graduate of Villanova University and a Fellow of the Casualty Actuarial Society.

Mr. Fries will join American Home from Kentucky Employers' Mutual Insurance (KEMI), where he had been president and CEO since 1994. Prior to that, he was Executive Vice President-Insurance at the Accident Fund of Michigan, which he joined in 1986 after serving fifteen years with the Michigan Bureau of Workers' Compensation. Mr. Fries is a graduate of Aquinas College, Grand Rapids, Michigan.

American Home Assurance Company is AIG's principal domestic provider of commercial umbrella/excess liability and primary and excess workers' compensation insurance.

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.