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NEW YORK--March 31, 2006--American International Group, Inc. (AIG) has announced that Thomas R. Tizzio will retire from AIG at the close of business today. Mr. Tizzio's career with AIG spanned more than 38 years. He retires as Senior Vice Chairman, General Insurance. Mr. Tizzio will remain an Honorary Director of AIG and has agreed to serve as an advisor to the Company.

Mr. Tizzio, 68, joined American Home Assurance Company in 1967 as an inland marine underwriter, and subsequently held a number of management positions in AIG's property-casualty insurance and reinsurance operations. In 1978 Mr. Tizzio was elected Executive Vice President of Transatlantic Reinsurance Company, and in 1980 became its President and a Director. He was elected AIG Senior Vice President-Reinsurance in 1982, President of AIG's Domestic Brokerage Group in 1985, and AIG Executive Vice President and an AIG Director in 1986. He served as AIG President from 1991-1997. In 1989, he was elected AIG Vice Chairman, Domestic General Insurance.

Mr. Tizzio is active in both insurance industry and civic affairs. He currently serves as a trustee of the American Institute for Property and Liability Underwriters and the Insurance Institute of America. He is Chairman of the Board of St. Vincent's Services and a former member of the Board of Trustees of the Brooklyn College Foundation. He received the National Italian American Foundation Lifetime Achievement Award in 2003.

Commenting on Mr. Tizzio's career, AIG President and Chief Executive Officer Martin J. Sullivan said, "Tom Tizzio has played a key role in AIG's General Insurance business for many years. His knowledge of our industry and his relationships with our producers, clients and business partners have been invaluable. Tom is greatly respected within the insurance industry, as he is within our organization. He helped recruit, train and develop many of our most successful managers. On behalf of the management team, our Board and Tom's colleagues around the world, I would like to thank him for his years of dedicated service to our organization. I look forward to continuing to benefit from Tom's experience and counsel in his role as an Honorary Director and an advisor to AIG and its subsidiaries."

American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed in the U.S. on the New York Stock Exchange as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

American International Group, Inc.
Joe Norton