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AIG CONSULTANTS, INC. INTRODUCES NEW CRISIS MANAGEMENT TOOLS

NEW YORK, Oct 15, 2002 -- AIG Consultants, Inc. (AIGC), a member company of American International Group (AIG), has introduced new crisis management tools designed to provide AIG member company insureds with coordinated services that help assess, prepare for and respond to crisis situations.

The PATROL(SM) (Planning and Tracking Response OnLine) Program offers insureds access to a global network of leading providers of business continuity and security-related services. The PATROL Program utilizes a Web-hosted information system that connects clients with a global network of selected crisis preparation and response companies, enabling clients to order crisis-related services and respond to and track crisis developments online in real time.

In the event of a crisis, the PATROL Program facilitates rapid notification and dispatch of service providers. Incident management and resource tracking software, provided by ETeam, allows easy compilation and dissemination of the information, coordination of response activities, and advanced planning. This feature of PATROL also includes a global graphic mapping component that enables the client to geo-position its facility location(s) and related incident reports anywhere in the world.

PATROL's service offerings can respond to a wide range of crisis events, including sabotage and terrorism, natural disasters, workplace violence, kidnap and ransom, environmental incidents, and medical and political evacuations. In addition to its response and tracking capabilities, PATROL offers access to leading providers of disaster recovery and business continuity planning, corporate security and investigations, and public relations services.

Additionally, AIG Consultants has introduced the Threat and Vulnerability Risk Assessment (TVRA), an online tool that assists companies to identify potential crises and corrective actions. The TVRA is designed to provide assessments of risk exposure for a wide variety of businesses and industries based upon location, industry type, amount of security in place, and other pertinent risk factors. Unlike static questionnaires or surveys, the TVRA's online features help facilitate informed decision making by allowing the user to electronically store the assessment and benchmark results against others in their peer or industry group.

"At a time when safety and security have new relevance, businesses are expected to identify and manage the potential risks that can impact their organization and be prepared to immediately and effectively respond to crisis situations," said John Carey, President, AIG Consultants, Inc. "Together, the state-of-the-art TVRA and PATROL programs can provide the cornerstone for every company's risk management program, offering not only an organized response to such incidents, but evidence of a responsible and prepared company."

For further information regarding the PATROL and TVRA programs, please contact AIG Consultants at (714) 436-3209.

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. Ned Burke, 212/770-3141