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AIG ELECTS ROBERT P. JACOBSON VICE PRESIDENT AND DEPUTY COMPTROLLER
NEW YORK, July 9, 1998 - American International Group, Inc. (AIG) has announced that Robert P. Jacobson has joined AIG as Vice President and Deputy Comptroller.

Mr. Jacobson was most recently Senior Vice President, Chief Financial Officer, and a Director of Everest Reinsurance Company, where he was responsible for all aspects of finance and accounting. Prior to that, he was a partner at Coopers & Lybrand LLP, where he was the partner in charge of the Coopers & Lybrand New York Region Insurance Industry practice. He is a graduate of Queens College of the City University of New York and a Certified Public Accountant. He is a member of the American Institute of CPAs, and the New York State Society of CPAs.

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AIG is the leading U.S.-based international insurance organization and among the largest underwriters of commercial and industrial insurance in the United States. Its member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services businesses. 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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