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NEW YORK, September 4, 2001 – American International Group, Inc. (AIG) has announced that Gregory Flood has joined AIG member company National Union Fire Insurance Company of Pittsburgh, Pa. (National Union) as Executive Vice President and Chief Operating Officer, and that Michael Mitrovic has been named President, American International Companies Worldwide Financial Lines Claims.

Both Mr. Flood and Mr. Mitrovic were previously executives at Global Specialty Risk, Inc., and in addition to their new responsibilities, will continue to manage servicing and claims relating to specialty lines insurance policies issued by Axcelera Specialty Risk, Inc., a wholly owned managing agency of Global Specialty Risk. These coverages will remain fully in force and effect through expiration.

Mr. Flood had 14 years experience at AIG in various underwriting roles, most recently as AIG Domestic Brokerage Group Vice President, responsible for the Mergers and Acquisitions Division. Prior to that he had served as President of National Union’s Management Liability Division and also headed National Union’s Financial Institution and Management Liability Divisions. He joined National Union as a Vice President of its Banking Division.

Mr. Mitrovic had 17 years experience in key claims management positions at AIG before joining Global Specialty Risk, most recently as AIG Vice President, Worldwide Financial Claims, responsible for financial institution, professional liability, surety and fidelity, and health care/medical malpractice claims.

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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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