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AIG NAMES JOEL EPSTEIN CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF AIG CONSUMER FINANCE GROUP

NEW YORK, February 11, 1999 - American International Group, Inc. (AIG) has announced that Joel Epstein has joined its AIG Consumer Finance Group, Inc. subsidiary as Chairman and Chief Executive Officer. Mr. Epstein will report to William N. Dooley, AIG Senior Vice President-Financial Services. Prior to joining AIG, Mr. Epstein was an Executive Vice President at Chase Manhattan Bank, where he was responsible for Chase's international consumer finance business, including operations in Hong Kong, Thailand, Mexico, Panama and the Caribbean. During his 25-year career at Chase, Mr. Epstein held numerous domestic and overseas assignments, including Country Manager for the People's Republic of China, President of Chase Personal Financial Services, President of Chase Auto Finance, and Western Hemisphere Consumer Banking Executive. He earned his B.A. and M.A. from Princeton University.

AIG Consumer Finance Group, Inc. is engaged in developing a worldwide consumer finance business with an emphasis on emerging markets. The Group's products include a wide range of personal, auto and mortgage loans, as well as deposit products and credit cards. It currently has operations in Hong Kong, Taiwan, Thailand, the Philippines, Poland and Argentina.

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.