AIG Board of Directors Authorizes Repurchase of up to $1 Billion of AIG Common Stock

American International Group, Inc. (NYSE: AIG) today announced that the AIG Board of Directors has authorized the repurchase of shares of AIG Common Stock, par value $2.50 per share, with an aggregate purchase amount of up to $1 billion from time to time in the open market, through derivative or automatic purchase contracts or otherwise. The timing of such purchases will depend on market conditions, AIG’s financial condition, results of operations, liquidity and other factors. This authorization replaces all prior Common Stock repurchase authorizations.

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.