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AIG ELECTS BRIAN SCHREIBER VICE PRESIDENT, STRATEGIC PLANNING

NEW YORK--Sept. 19, 2002--American International Group, Inc. (AIG) (NYSE: AIG) has announced that Brian T. Schreiber has been elected Vice President, Strategic Planning.

Mr. Schreiber is Managing Director of AIG Global Investment Group, Inc., with responsibility for mergers, acquisitions and strategic investments for AIG and its member companies. He joined AIG in 1997 with more than ten years experience in principal investments and investment banking.

Mr. Schreiber is a graduate of New York University and received an MBA from Columbia Business School.

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 Ned Burke, 212/770-3141