AIG and the U.S Department of the Treasury Commence Offering of AIG Common Stock

American International Group, Inc. AIG announced today that it and the U.S. Department of the Treasury, as the selling shareholder, have commenced a registered public offering of AIG common stock, par value $2.50 per share. One hundred million shares will be issued and sold by AIG and 200 million shares will be sold by the selling shareholder. Treasury will also grant the underwriters an option to purchase up to 45 million additional shares from it to cover over-allotments, if any. AIG will not receive any of the proceeds from the sale of the shares of AIG common stock by Treasury. AIG intends to use $550 million of the net proceeds from this offering to fund part of a previously disclosed litigation settlement, and to use the balance of the net proceeds for general corporate purposes.