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AIG WORLDSOURCE TO OFFER FOOD, BEVERAGE AND PACKAGING INDUSTRY INSUREDS ACCESS TO PRODUCT SAFETY AND QUALITY AUDITS FROM NSF-COOK & THURBER
NEW YORK, Mar 11, 2002 -- American International Group, Inc. (AIG) has announced that AIG WorldSource, a division of the American International Companies, will offer customized product safety and quality audits provided by NSF-Cook & Thurber, a division of NSF International, to help insureds in the food, beverage and packaging industries reduce product contamination risk.

"Increased industry and public concern over food security underscores the importance of establishing process controls and protocols that can help assure continuous product safety and quality while helping prevent an incident that can damage the viability of a business or product line," said Gordon Knight, President, AIG WorldSource. "Our relationship with NSF-Cook & Thurber reinforces our commitment to providing loss prevention consulting services that add value to our insureds' efforts to reduce the risk of product contamination."

Contaminated Product Insurance, underwritten by AIG member companies, provides coverage for business interruption, recall costs, rehabilitation expenses, consultant and advisor costs, and extortion costs to a company after an accidental contamination, malicious product tampering or product extortion.(a) Insureds will now benefit from pre-incident consulting services that will facilitate the production of higher quality safer food products for the market. As the leader in third-party food safety and quality auditing, NSF-Cook & Thurber specializes in customized audits of process systems, sanitation, Good Manufacturing Practices and facility biosafety programs. Complementing NSF International's leading-edge hazard analysis and critical control point (HACCP) services, NSF-Cook & Thurber consultants are highly qualified in HACCP plan development, evaluation, re-validation and crisis management.

NSF International, a not-for-profit, non-governmental organization, is the leading global supplier of risk-management services in public health and safety. Serving companies in more than 83 countries, NSF was founded in 1944 and is headquartered in Ann Arbor, Mich.

AIG WorldSource provides insurance coverages to U.S. based companies with international operations, as well as foreign businesses with subsidiaries in the United States. AIG WorldSource serves as a domestic point of entry into AIG's global network.

AIG WorldSource will be exhibiting at the Food Safety Summit on March 13-15 at the Marriott Wardman Park Hotel, 2660 Woodley Road NW, Washington DC at booth number 7009. For more information on the exhibit visit www.foodsafetysummit.com.

For additional information on Contaminated Product Insurance or on AIG WorldSource's relationship with NSF-Cook and Thurber, contact John Thompson at 212/458-2123 or by email, john.thompson@aig.com.

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.

(a) Insurance underwritten by member companies of AIG. The description herein is a summary only. It does not include all terms, conditions and exclusions of the policy described. Please refer to the actual policy for complete details of coverage and exclusions. Coverage may not be available in all states.

CONTACT:          American International Group, Inc.
                  Ned Burke, 212/770-3141