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NEW YORK, February 23, 1999 - American International Group, Inc. (AIG) has announced that Cary I. Beighley has been named President of the American International Companies' Worldwide Warranty Division. In this newly created position, Mr. Beighley will be responsible for AIG's global warranty operations. Through its member companies, AIG is a leading provider of warranty-related products worldwide.

Mr. Beighley was most recently President of Cary Beighley & Associates, Inc., consultants to the service contract and home warranty services industry, with a broad range of clients from the retail, insurance and financial services sectors. Prior to forming that company, Mr. Beighley had thirty-five years service in various executive positions at Sears, most recently in Sears Product Services, with responsibility for the service contract/warranty business.

American International Group, Inc. (AIG) is the leading U.S.-based international insurance organization and among the largest underwriters of commercial and industrial insurance in the United States. Its member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services 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.