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AI RISK(SM) LAUNCHES MULTI-LINE INSURANCE PROGRAM FOR PRIVATE PRIMARY SCHOOLS, COLLEGES AND UNIVERSITIES
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NEW YORK--May 31, 2006--AI Risk(SM), a member company of American International Group Inc. (AIG), today announced the AI Risk Education Program, a multi-line property and casualty program for private primary schools, colleges and universities.

The AI Risk Education Program is designed for private K - 12 schools and also for public and private colleges and universities with 10,000 or fewer students. The program can include a variety of coverages that educational institutions may need, including but not limited to: property; inland marine; machinery and equipment breakdown; valuable papers and records; crime; primary commercial general liability and lead umbrella; incidental medical malpractice; abuse and molestation and limited pollution coverage.

"In the past, the education market has been forced to take a fragmented approach to insuring diverse risks, which often resulted in gaps or inconsistencies in coverage," said John Willett, Senior Vice President, AI Risk. "With the AI Risk Education Program, these institutions can secure coverage for everything from laboratories to sporting events - all with consistently high quality underwriting and exceptional financial strength."

The standard program provides property insurance with limits up to $25 million per location and primary casualty and lead umbrella with limits up to $5 million. Higher limits are available. York Claims Service handles claims for this program.

For more information on the AI Risk Education Program or other AI Risk Programs please visit www.airisk.com or contact us at 415-836-7251.

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.

CONTACT:
American International Group, Inc.
Peter Tulupman, 212-770-3141