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DAVID B. JARVIS JOINS AIG AS HEAD OF BANCASSURANCE UNIT

NEW YORK, June 8, 1999 - American International Group, Inc. (AIG) has announced that David Jarvis has joined the American International Companies Mass Marketing Division as President of its Bancassurance unit. In this position Mr. Jarvis is responsible for U.S. sales of insurance products underwritten by AIG member companies for the consumer household and small business customers of financial institutions. Mr. Jarvis will report to J. Ernest Hansen, President of AIG member company American International Insurance Company, who heads AIG's domestic Mass Marketing Division, based in Wilmington, Delaware. Mr. Jarvis was previously Senior Vice President of bank marketing at Greensboro, NC-based Jefferson Pilot Financial where he was responsible for bancassurance strategy and distribution of domestic life insurance through banks. He began his banking career in 1976 with First Security Corporation, Salt Lake City, Utah, and subsequently held executive positions with Security Pacific Bank in Phoenix, Arizona; Citicorp in Dover, Delaware; and Key Corp. in Cleveland, Ohio. He is a graduate of Southern Utah University and holds a Certified Financial Planner (CFP) designation. Mr. Jarvis also served on the Board of Directors of the Association of Banks-in-Insurance from 1995 to 1996.

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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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