|AIG SPLITS COMMON STOCK 3-FOR-2 AND RAISES QUARTERLY COMMON STOCK DIVIDEND 12.0 PERCENT|
NEW YORK, May 20, 1998 - The Board of Directors of American International Group, Inc. (AIG) today declared a three-for-two split of the company's common stock in the form of a 50 percent common stock dividend. The dividend is payable on July 31, 1998 to shareholders of record on June 26, 1998.|
The Board also declared a quarterly cash dividend on the new shares of $.056 per share, payable on September 18, 1998 to shareholders of record on September 4, 1998. This represents a 12.0 percent increase in the quarterly cash dividend on AIG common stock.
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.