NEW YORK, November 24, 1998 – American International Group, Inc. (AIG) has announced that Nicholas A. O’Kulich, AIG Senior Vice President, Life Insurance, has been named Vice Chairman of the AIG Life Companies (U.S.).

Mr. O’Kulich joined AIG in 1990 and was elected Vice President of AIG in 1991. He was elected to his current position in 1997. He is Chief Financial Officer for the AIG life operations worldwide. Prior to joining AIG, Mr. O’Kulich managed insurance operations and financial activities for several other insurance organizations. He is a graduate of the University of Michigan, holds a Masters of Actuarial Science and is a Fellow of the Society of Actuaries.

The two principal AIG Life Companies (U.S.) are AIG Life Insurance Company (AIG Life) and American International Life Assurance Company of New York (AI Life). AIG Life does not solicit business in New York.

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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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