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AI RISK EXPANDS PROGRAMCONNECT, A NEW ONLINE QUOTING AND BINDING SYSTEM FOR SPECIALTY LINES
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SPECIALTY LINES SYSTEM NOW WIDELY AVAILABLE

NEW YORK--Dec. 16, 2004--The AI Risk(SM) division of Risk Specialists Companies Inc., a member company of American International Group, Inc. (AIG), today announced the expansion of AI Risk ProgramConnect(R) (ProgramConnect), an online specialty lines quote and bind system designed to expedite and simplify the process for surplus lines agents and brokers.

Launched in 2003, ProgramConnect provides users with instant premium indications for specialty lines based on essential account information when specified limits and coverages are requested.(a) Through a streamlined application, users can easily access a summary of applicant, policy and premium information for new business and mid-term renewals. Instant-bind capabilities are available for certain lines of business, if the application meets pre-approved underwriting guidelines.

With the enhanced ProgramConnect, brokers and agents will have enhanced access to a wide range of specialty lines coverage online, including Home Inspectors Liability, Architects and Engineers Liability, Employment Practices Liability, Liquor Legal Liability, Miscellaneous Professional Liability and Railroad Protective Liability.

"There is an increasing demand among brokers for a paperless quoting and binding process, particularly with specialty lines coverages," said Kevin H. Kelley, Chairman and Chief Executive Officer, Lexington Insurance Company. "Through ProgramConnect's user-friendly system, our producers gain added flexibility and unlimited access to their specialty lines accounts, helping them to complete transactions with relative ease. Expanding the system to a larger population reflects AI Risk's continuing commitment to helping brokers better service their clients."

ProgramConnect dramatically accelerates the renewal process, due to the pre-population of relevant data input into the system at the time of first application. Underwriting contact information is also automatically made available. The system is protected by state-of-the-art security and privacy protocols and keeps users up-to-date via e-mail alerts on the latest product innovations and enhancements from AI Risk.

For more information on AI Risk ProgramConnect products visit www.airisk.com or contact Terri Moran, Vice President of Marketing, AIG Programs at 415/836-7251 or terri.moran@aig.com.

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.

(a) Insurance is underwritten by member companies of American International Group, Inc., and is subject to underwriting review and approval. Coverage may not be available in all states. Non-insurance products may be provided through independent third parties.

CONTACT:
American International Group, Inc.
Andrew Silver
212-770-3141