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AIG ELECTS HANS K. DANIELSSON VICE PRESIDENT, INVESTMENTS

NEW YORK, May 1, 2002 - American International Group, Inc. (AIG) has announced that the Board of Directors has elected Hans K. Danielsson Vice President, Investments.

Mr. Danielsson currently serves as Senior Managing Director, Head of Global Equities, for AIG Global Investment Corp. and is responsible for directing AIG's global equities activities worldwide. He joined AIG in 1998 after five years with SE Banken Fonder as Chief Investment Officer for International Equities. Mr. Danielsson has over 20 years of experience in the investment industry, including eight years with J.P. Morgan in London. He received his B.A. degree from Uppsala University in Sweden and an M.B.A. from INSEAD in France.

Commenting on the appointment, AIG Chairman M.R. Greenberg said, "Hans Danielsson has proved himself to be an outstanding investment professional with strong experience in global markets. His election as AIG Vice President recognizes his contributions to AIG and his future role in managing our worldwide investment portfolio."

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 among the top-ranked U.S. life insurers. 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.

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Joe Norton
Director of Public Relations
212-770-3144