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NEW YORK, October 8, 2001 - American International Group, Inc. (AIG) Chairman M. R. Greenberg will hold a conference call for investors and analysts on Tuesday, October 9 at 4:00 PM EDT.

Mr. Greenberg will discuss the benefits AIG expects to derive from the acquisition of American General Corporation as well as the one-time restructuring charges relating to this acquisition, which were announced when the transaction closed on August 29, 2001. At the same time, Mr. Greenberg will discuss AIG's strategies going forward in the worldwide property-casualty, life and its other markets, as well as the state of these markets, and the impact on the company of the September 11 terrorist attacks.

The presentation can be accessed by telephone. For domestic listeners, the telephone number is 800-857-5156. For international callers, the telephone number is 212-287-1675. The passcode is AIG. Participants should dial in at least 15 minutes prior to the beginning of the teleconference.

For those unable to listen to the live conference call, a replay will be available through October 16, 2001. For the replay, domestic U.S. listeners should call 888-568-0533. International callers should telephone 402-998-1505.

It should be noted that Mr. Greenberg's remarks may contain forward-looking statements. AIG refers you to the AIG Quarterly Report on Form 10-Q for the quarter ended June 30, 2001 and its past and future filings and reports filed with the United States Securities and Exchange Commission for a description of the business environment in which AIG operates and important factors that may affect its business. AIG is not under any obligation to (and expressly disclaims any such obligations to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

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AIG is the leading U.S.-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial, personal and life insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG's global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. 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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