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AIG eBUSINESS RISK SOLUTIONS INTRODUCES AIG TRADECREDIT.COM; WEB-BASED CREDIT AND RISK MANAGEMENT TOOL HELPS BUSINESSES BETTER MANAGE THEIR ACCOUNTS RECEIVABLES

NEW YORK, Apr 15, 2002 -- American International Group, Inc. (AIG) has announced that AIG eBusiness Risk Solutions, a division of the American International Companies, has introduced AIG TradeCredit.com (www.aigtradecredit.com), an innovative Web-based credit and risk management tool designed to help businesses better manage their accounts receivables through a comprehensive offering of credit insurance and real time access to customers' credit information and credit monitoring services.(a)

"AIG Tradecredit.com leverages the AIG member companies' long standing expertise in trade credit insurance, global presence and industry-leading experience in delivering online risk management solutions to provide businesses with a valuable credit and risk management resource," said Gretchen Hayes, Divisional President, AIG eBusiness Risk Solutions. "By offering a real-time, Internet-based solution to credit analysis and management that is interactive and cost effective, AIG TradeCredit.com enables companies to effectively evaluate and monitor customer credit so they can focus on growing their business and improving profitability, rather than managing their accounts receivables."

AIG TradeCredit.com offers businesses:

  • Real-time assessment of buyers' ability to pay for the goods and services. Assessments are available for buyers in the United States, Canada and Europe.
  • Ongoing monitoring of changes in the buyers' financial condition.
  • Credit insurance providing coverage against nonpayment of account receivables, which can help contribute to an insured's financial stability while facilitating financing.
  • Outsourced professional debt collections services at competitive rates.
  • AIG TradeCredit.com helps minimize receivables management expenses, with quick and simple on-line administration of a company's credit limits and access to trade credit insurance coverage. In addition, by designating a bank as the Loss Payee on a trade credit insurance policy, a business can obtain better terms for receivables financing from their bank. By managing their accounts receivables more effectively with AIG TradeCredit.com, businesses can also reduce or eliminate the drain of bad debt reserves on their bottom line.

    For more information on AIG eBusiness Risk Solutions' AIG TradeCredit.com, contact your insurance broker, local American International Companies office or visit www.aigtradecredit.com.

    AIG eBusiness Risk Solutions (AIGeBRS) is a global leader in identifying, evaluating and managing the evolving Internet-related risks in the B2C and B2B markets. AIGeBRS offers a comprehensive suite of insurance products and risk management services combining insurance, information services and technology that support eBusiness at its most sensitive touch points: network security, trade credit, identity protection and credit card fraud.

    AIG will be exhibiting at the 40th RIMS Conference and Exhibition in New Orleans, Louisiana, April 14-20, 2002. For more information on AIG eBusiness Risk Solutions and other AIG member companies, visit booth #1244.

    AIG is the world's leading U.S.-based international insurance and financial services organization, the largest underwriter of commercial and industrial insurance in the United States, and the second-largest U.S. life insurer. Its member companies write a wide range of general insurance and life insurance products for commercial, institutional and individual customers through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG's global businesses also include financial services, retirement savings and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making, and consumer finance. AIG has one of the largest retirement savings businesses in the United States and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

    (a) The above described coverage may not be available in all states, and the above description thereof is neither a complete description nor a complete list of all terms, conditions and exclusions. Note that certain terms used above are defined in the policy. Please see the policy for a complete description of its scope and limitations of coverage. Issuance of coverage is subject to underwriting. Insurance is underwritten by member companies of American International Group, Inc. Non-insurance products may be provided through independent third parties.