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NEW YORK--Dec. 27, 2004--American International Group, Inc. (AIG) Chairman M. R. Greenberg issued the following statement concerning the December 26 South Asian earthquake and tsunamis:

"The powerful earthquake and tsunamis that struck South Asia yesterday are a tremendous tragedy that resulted in a huge loss of life, and left millions of people in need of help. AIG and the Starr Foundation will be contributing to relief efforts, and AIG employees are being encouraged to contribute to the AIG Disaster Relief Fund. Their contributions will be matched 100 per cent.

"In terms of AIG's business, we have managers and claims professionals working in those affected areas where we have policy holders. Early reports from the countries impacted by the tragedy suggest that AIG will not have significant business exposures or losses. We will provide updates when additional information becomes available."

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 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.

Investment Community:
Charlene Hamrah, 212-770-7074

News Media:
Joe Norton, 212-770-3144