AIG INSURANCE NAMES PATRICK PREDDY REGIONAL VICE PRESIDENT OF AMERICAN INTERNATIONAL COMPANIES, LOS ANGELES REGION OFFICE

NEW YORK, April 1, 1998 – American International Group, Inc. (AIG), has named Patrick N. Preddy Regional Vice President, American International Companies, Los Angeles Regional Office. The region includes Southern California and the states of Arizona, New Mexico, Colorado, Utah and Wyoming. Mr. Preddy will report to Vince Masucci, Senior Executive-West.

Mr. Preddy had served since 1993 as President of China America Insurance Company (CAIC), a joint venture of AIG and the People’s Insurance Company of China (PICC). Prior to that, he was the Midwest Regional Manager of American Home Assurance Company in Chicago. Mr. Preddy joined AIG in 1987 as a regional production manager at AIG Risk Management (AIGRM). Mr. Preddy received his B.S. degree from Florida State University in Finance and Insurance.

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AIG is the leading U.S.-based international insurance organization and among the largest underwriters of commercial and industrial insurance in the United States. Its member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services businesses. American International Group, Inc.’s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

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