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AMERICAN INTERNATIONAL COMPANIES OFFER DIRECTORS AND CORPORATE OFFICERS BUSINESS TRAVEL ACCIDENT INSURANCE AND TRAVEL ASSISTANCE SERVICES

NEW YORK, Jun 20, 2002 -- American International Group, Inc. (AIG) has announced that the American International Companies have enhanced their Directors, Officers and Corporate Liability insurance coverage to include Business Travel Accident Insurance and Travel Assistance Services.(a)

"This endorsement furthers our commitment to provide timely and vital coverage that responds to the risks facing directors and officers, while enabling companies to give their directors and corporate officers extensive travel accident insurance, for travel on company business," said John Keogh, AIG Vice President, Domestic General Insurance and President, National Union Fire Insurance Company of Pittsburgh, Pa. "This coverage is especially needed for board members who may not have adequate business travel insurance as part of their employee benefit package."

The Business Travel Accident endorsement pays benefits in the event of an accident when an insured director or corporate officer is traveling to or from a company business meeting, or when they are at the business meeting itself. Additionally, the endorsement can be expanded to cover accidents that can occur at any time, during business or pleasure travel.

The coverage provides benefits of up to $250,000 per person, up to an aggregate limit of $2.5 million. Benefits, which are provided in addition to any workers' compensation or other insurance benefits, are paid directly to the insured director or officer, or their designated beneficiary.

Business Travel Accident Insurance also provides insured directors and corporate officers access to AIG Assist Travel Assistance Services, offering comprehensive emergency, legal, medical and pre-trip or en-route assistance services, which can include assistance with lost baggage/passports, insurance coordination, medical and legal referrals, evacuation and repatriation services, emergency cash and emergency messaging.

For more information on Business Travel Insurance, contact your insurance broker, a local American International Companies' office or e-mail managementliability@aig.com

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.

(a) The above described coverage may not be available in all jurisdictions, 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.

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