|AIG ISSUES STATEMENT ON CHINA’S WORLD TRADE ORGANIZATION MEMBERSHIP|
|NEW YORK, September 15, 2001 – American International Group, Inc. (AIG) Chairman and CEO M. R. Greenberg has issued the following statement on the decision announced earlier today in Geneva by the Working Party on China’s membership in the World Trade Organization (WTO):|
“We are pleased that the United States government has received a binding commitment from China that the existing rights of AIG’s life insurance branch operations in China have been preserved, and that we will be able to expand throughout China off of those existing branches, consistent with our current 100 percent ownership structure, as geographic restrictions are lifted in the future.
“AIG has worked hard over many years in support of China’s membership in the WTO which will bring many benefits to the citizens of China, the U.S., and the world. Much credit is due to Ambassador Robert Zoellick and his USTR colleagues, especially Ambassador Jeffrey Bader, Christina Lund and Catherine Field. They have worked skillfully and with determination to achieve this historic outcome.”
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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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