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AIG MEMBER COMPANIES TO LEAD AVIATION WAR RISK AND HIJACKING LIABILITY COVERAGE
NEW YORK, September 24, 2001 – American International Group, Inc. (AIG) has announced that its member companies will lead a placing on behalf of the co-insurance market for aviation war risk and hijacking liability coverage, offering $150 million in excess of $50 million aggregate and up to $850 million in excess of $150 million, making available aviation war risk and hijacking liability coverage of $1 billion per airline.

Commenting on the announcement, AIG Chairman M. R. Greenberg said, “The availability of this coverage will enable airlines to obtain the $1 billion in coverage required by many airline regulators. These policies bridge the gap between the limits currently available in the market and what the airlines require today. AIG member companies will be working with the leading international brokerage firms to place this coverage.”

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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.

Contact:

Ned Burke
Manager, Public Relations
212/770-3141