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AIG CHAIRMAN M. R. GREENBERG TO SPEAK AT KEEFE, BRUYETTE & WOODS 2002 INSURANCE CONFERENCE

NEW YORK--Dec. 5, 2002--American International Group, Inc. (AIG) Chairman M. R. Greenberg is the luncheon speaker at the Keefe, Bruyette & Woods 2002 Insurance Conference on Tuesday, December 10.

Mr. Greenberg's presentation is expected to begin at approximately 12:45 p.m.

Keefe, Bruyette & Woods will webcast the audio portion of Mr. Greenberg's presentation at the following URL:

http://customer.ibeam.com/KEEF001/121002a_pb/default.asp

A replay will be available at the same URL within 24 hours of Mr. Greenberg's presentation and remain archived at the same link through Tuesday, December 17, 2002.

It should be noted that Mr. Greenberg's remarks may contain forward-looking statements. Please refer to the AIG Quarterly Report on Form 10-Q for the quarter ended September 30, 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 and 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
Investment Community:
Charlene Hamrah, 212/770-7074
or
News Media:
Joe Norton, 212/770-3144