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RALPH MUCERINO NAMED PRESIDENT OF AMERICAN INTERNATIONAL COMPANIES' GLOBAL ENERGY DIVISION

NEW YORK, May 20, 2002 -- American International Group, Inc. (AIG) has announced that Ralph Mucerino has been named President of the American International Companies' Global Energy Division.

"The American International Companies have long been leaders in delivering insurance and risk management solutions that meet the highly complex and specialized needs of the energy industry," said Martin J. Sullivan, AIG Co-Chief Operating Officer and Vice Chairman. "Ralph Mucerino's years of international management experience throughout AIG's operations will contribute to the continued growth and success of our Global Energy Division."

Mr. Mucerino was most recently Senior Vice President of American International Underwriters (AIU), AIG's international property-casualty insurance operation. Since joining AIG in 1979, he has held several management positions with AIG's Domestic Brokerage Group and Foreign General Division, including Chief Operating Officer of AIG's non-life insurance companies in Japan & Korea and Regional President of AIU's Africa and Middle East Division. Mr. Mucerino is a graduate of St. John's University.

American International Companies' Global Energy Division is dedicated to serving the needs of the oil and gas, utility and mining industries, making available the full range of AIG's capabilities including worldwide property, primary and excess casualty, environmental, management liability coverages and risk management and engineering services.

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.

CONTACT: For American International Group, Inc.
Joe Norton, 212/770-3144