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AIG AVIATION, INC. OFFERS NEW SPECIALTY WORKERS' COMPENSATION COVERAGE; NEW PROGRAM TARGETS SMALL- AND MEDIUM-SIZED ENTERPRISES WITH UNIQUE AVIATION RISKS
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NEW YORK--Aug. 24, 2004--AIG Aviation, Inc., a member company of American International Group, Inc. (AIG), today announced that it is now offering Specialty Workers' Compensation coverage to meet the growing need of employers who place separate workers' compensation coverage for a corporate flight department.*

"We understand that there is a need for this coverage among smaller corporate flight departments and are pleased to make this coverage available," stated Steve Blakey, President of AIG Aviation. "By tailoring our offering to the middle-market customer, AIG Aviation Specialty Workers' Compensation will help small- and medium-sized enterprises address their evolving aviation risk management concerns."

The small- and medium-sized enterprise is a new market for AIG Aviation, which has typically written business for Fortune-class companies with premiums in excess of $100,000 annually. The customer profile for Specialty Workers' Compensation coverage includes risks in the premium range up to $100,000, and it can be purchased as a stand-alone policy or in combination with other coverages.

Available in select states, AIG Aviation Specialty Workers' Compensation coverage can be purchased through any independent insurance broker who works with AIG Aviation. To send a submission, locate an appointed broker or obtain more information on AIG Aviation, business owners and pilots can contact Kevin Shinn, Underwriter, AIG Aviation, 404-249-1829, kevin.shinn@aig.com.

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.

* 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: AIG Corporate Communications
             Andrew Silver, 212/770-3141

    SOURCE: AIG Aviation, Inc.