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NEW YORK, September 17, 2001- The Starr Foundation has announced that it will donate $10 million directly to New York City not-for-profit institutions in support of the police officers and firefighters who have lost their lives or have been injured in the rescue efforts in the aftermath of the World Trade Center catastrophe.

M. R. Greenberg, Chairman of The Starr Foundation and Chairman and CEO of American International Group, Inc. (AIG), said “The thousands of firefighters and police officers who have performed selflessly and heroically have suffered tremendous losses in this tragedy. As a member of the downtown community and a long-time supporter of the New York City Police and Fire Departments, we believe it is critical to recognize their courageous efforts and offer our full support to these heroes and their families during these difficult circumstances.”

The Starr Foundation was established in 1955 by Cornelius Vander Starr, the founder of the American International family of insurance and financial services companies, now known as American International Group, Inc. (AIG). It makes grants in a number of areas, including education, medicine and healthcare, public policy, human needs, culture and the environment.

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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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Florence A. Davis