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AIG PRIVATE CLIENT GROUP INTRODUCES YACHT INSURANCE

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NEW YORK--Dec. 4, 2003--AIG Private Client Group, a division of the property and casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced the introduction of yacht insurance for high net worth individuals.

AIG Private Client Group's yacht offering provides customized coverage selections, including flexible deductible options. Additional product features include the capability to provide worldwide property and liability coverage; large limit coverage capacity; and access to AIG Private Client Group's concierge level claim services.

Yacht insurance is part of a growing list of personalized products offered through AIG Private Client Group. "We have responded to a significant demand for homeowners and excess liability coverage among high and ultra-high net worth clientele and will continue to provide coverage options that meet this market's evolving insurance needs," said Ross Buchmueller, President, AIG Private Client Group. "To this end, because many of our insureds own yachts, we are pleased to provide them with a meaningful insurance solution."

AIG Private Client Group offers innovative insurance products and risk management services that enhance protection and help minimize threats to the personal wealth and safety of high net worth clients and their families. Insurance product offerings, underwritten by member companies of American International Group, Inc., include automobile, homeowners, private collections, excess liability, excess flood, kidnap and ransom, aviation and yacht coverage. In addition to a comprehensive portfolio of products, AIG Private Client Group provides access to art collection management, security and residential services.

For more information, contact your local broker or visit the AIG Private Client Group Web site at www.aigpcg.com.

AIG is the world's leading international insurance and financial services organization, with operations in approximately 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer. AIG's global businesses also include financial services, retirement services and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, 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.

The above described coverage may not be available in all states, 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: For AIG Private Client Group: Andrew Silver, 212-770-3141 SOURCE: AIG Private Client Group