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TenetCU's 18,000 Nationwide Members to Receive Comprehensive Financial Education and Retirement Planning Services at No Cost

HOUSTON, Feb 10, 2005 -- VALIC Financial Advisors, Inc. today announced an administrative services agreement with Tenet Federal Credit Union (TenetCU) to offer comprehensive financial and retirement planning tools to members of the credit union nationwide.

Under the agreement, TenetCU members will receive, at no cost, access to a financial planning and education program that is relevant to consumers across a variety of financial profiles. The AIG VALIC seminars will address retirement planning, investment planning and estate conservation. TenetCU members will also receive a financial plan that includes a review and analysis of six financial reports. These reports include:

  • Financial Overview Report - Details a client's current financial and investment status;
  • Cash and Debt Analysis - Offers guidance on how to create and follow a budget;
  • Retirement Report - Provides assistance in creating an effective retirement savings strategy;
  • Education Funding Report - Helps parents develop a plan for the education needs of their family;
  • Life Insurance Report - Reviews a consumer's existing coverage to determine whether they carry adequate life insurance; and
  • Estate Planning Report - Delivers professional support on estate planning issues.

"We are working with VALIC Financial Advisors because of their leadership in the financial services industry and their broad expertise in providing financial education and planning tools," said John Saatela, Chief Executive Officer, TenetCU. "Access to the experience of AIG VALIC's highly-skilled financial advisors makes this program an excellent educational tool that can further assist our members in planning for their retirement."

In commenting on the announcement, Jonathan Reilly, Regional Director, AIG VALIC, said, "TenetCU members will now have access to resources that will help them plan for life's major financial events. AIG VALIC's unbiased financial planning services will help TenetCU members make informed decisions regarding their financial and retirement planning goals. We are pleased to have the opportunity to share our expertise with TenetCU members to help them establish a financial roadmap for the future."

AIG VALIC, led by The Variable Annuity Life Insurance Company, is the nation's leading provider of retirement services to primary and secondary education, the second largest provider to healthcare groups and the third-largest provider to higher education groups. AIG VALIC serves 25,000 client groups in more than 40,000 locations throughout the United States. AIG VALIC is a marketing unit that includes VALIC Financial Advisors, Inc., VALIC Retirement Services Company, VALIC Trust Company and The Variable Annuity Life Insurance Company (VALIC), which are subsidiaries of American International Group, Inc. (AIG).

Tenet Federal Credit Union was founded in 1966 as a member-owned financial cooperative to serve employees and physicians of the Tenet family of hospitals and their family members. With its corporate headquarters and main branch in Los Alamitos, California, TenetCU also reaches members nationwide with its Tennessee branch, Texas and Florida Area Managers and 42 conveniently located ATMs throughout the country. TenetCU also participates in shared credit union network that provides access to over 20,000 ATMs.

American International Group, Inc. (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 financial 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 and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

AIG Retirement Services, Inc.
Casey Boggs