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AIG VICE CHAIRMAN HOWARD SMITH TO SPEAK AT DEUTSCHE BANK SECURITIES INSURANCE CONFERENCE

NEW YORK, May 29, 2002 -- American International Group, Inc. (AIG) Vice Chairman, Chief Financial Officer and Chief Administrative Officer Howard I. Smith will speak at the Deutsche Bank Securities Insurance Conference on Tuesday, June 4 at 4:00 P.M. EDT.

A live, audio-only webcast of Mr. Smith's presentation will be available at the following URL: http://www.on24.com/clients/deutschebank/conference_020604/submit.asp? presenter=americanint

A replay will be archived at the same URL within 24 hours.

It should be noted that Mr. Smith's remarks may contain forward-looking statements. Please refer to the AIG Quarterly Report on Form 10-Q for the quarter ended March 31, 2002 and its past and future filings and reports filed with the SEC for a description of the business environment in which AIG operates and the important factors that may affect its business. AIG is not under any obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

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: American International Group, Inc., New York
Charlene Hamrah (Investment Community)
212/770-7074
Joe Norton (News Media)
212/770-3144