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AIG ANNOUNCES EMPLOYMENT REDUCTIONS RESULTING FROM ACQUISITION OF AMERICAN GENERAL
NEW YORK, September 5, 2001 – American International Group, Inc. (AIG) has announced that net job reductions spread over the next 12 to 18 months resulting from the acquisition of American General Corporation (AGC) will total approximately 1,500 in several AIG and AGC locations in the United States. These reductions result primarily from operating efficiencies to be derived through the combination of various AIG and AGC units, as well as attrition.

AIG’s total worldwide employment, including American General employees, currently approximates 85,000.

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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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