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THE STARR FOUNDATION TO DONATE $1 MILLION TO THE HURRICANE CHARLEY RELIEF EFFORT
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Donation Will Help Deliver Food, Shelter and Clothing Florida Residents

NEW YORK, Aug 23, 2004 -- The Starr Foundation today announced that it will donate $1 million to the Hurricane Charley relief effort. The donation, which will be managed by the Volunteer Florida Foundation, is specifically earmarked to provide the elderly and those who have been displaced from mobile homes with food, shelter and clothing in the aftermath of the storm.

M.R. Greenberg, Chairman of The Starr Foundation and Chairman of American International Group, Inc. (AIG), said, "Hurricane Charley displaced thousands of people from their homes throughout Florida, many of whom are elderly and require special support to conduct their daily lives. With this in mind, our donation will help ensure that those in need will receive the care and supplies necessary to recover from the damage caused by the storm.

"To further support the recovery effort, AIG has encouraged its employees to contribute through the AIG Disaster Relief Fund, and The Starr Foundation will match these donations 100 percent."

The Starr Foundation was established in 1955 by Cornelius Vander Starr, the founder of the American International family of insurance and financial services companies, now known as American International Group, Inc. (AIG). It makes grants in a number of areas, including education, medicine and healthcare, public policy, human needs, culture and the environment.

American International Group, Inc. (AIG) is the world's leading international insurance and financial services organization, with operations in more than 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 retirement services, financial 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.

SOURCE: American International Group, Inc.

The Starr Foundation
Courtney O'Malley, 212/770-5054