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NEW YORK, Mar 24, 2003 -- American International Group, Inc. (AIG) has announced that AIG Specialty Auto, a division of American International Companies, has been renamed AIG Agency Auto to better convey the unit's commitment to the independent agency distribution channel.

AIG Agency Auto currently delivers insurance products covering private passenger automobiles and motorcycles through a network of more than 9,000 agents in 30 states.

"This name change will more precisely communicate to independent agents that AIG Agency Auto is their point of contact for a variety of innovative automobile insurance solutions. This new name recognizes the important role that the independent agents have played in AIG Agency Auto's remarkable growth," said Tony Pavia, President, AIG Agency Auto.

AIG Agency Auto provides its agents and their customers fast, fair and accurate claims handling, competitive rates, convenient payment options and state-of-the-art Windows-based rating and upload software. The AIG Agency Auto Web site enables agents to check policy status, claim status, process endorsements and view commission statements.

For more information on AIG Agency Auto and its offerings, independent agents should contact 800/334-9641, extension 8383 or visit the Web site at www.AIG4AUTO.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.

CONTACT: American International Group, Inc., New York Joe Norton, 212/770-3144