AIG Board Confirms Refusal to Join Starr Suits

American International Group, Inc. (NYSE: AIG) today made the followingannouncement regarding the demand served on the AIG Board of Directors relatedto lawsuits filed by Starr International Company, Inc. (Starr) contestingcertain terms of the U.S. Government's rescue of AIG in September 2008.In accordance with Delaware law and the proceedings before Judges Thomas C.Wheeler and Paul A. Engelmayer in the lawsuits that Starr has initiated, theAIG Board has considered Starr's demand that AIG pursue the shareholderderivative claims belonging to AIG that Starr has alleged against the UnitedStates of America and the Federal Reserve Board of New York.The AIG Board has determined to refuse Starr's demand in its entirety, andwill neither pursue these claims itself nor permit Starr to pursue them inAIG's name.AIG expects to file with the courts a formal statement detailing the Board'sdetermination and the reasons underlying it in the coming weeks.“In considering and ultimately refusing the demand before us, the Board ofDirectors properly and fully executed our fiduciary and legal obligations toAIG and its shareholders,” said Robert S. “Steve” Miller, Chairman of the AIGBoard of Directors. “America invested in 62,000 AIG employees, and we kept ourpromise to rebuild this great company, repay every dollar America invested inus, and deliver a profit to those who put their trust in us. To date, AIG hasreturned $205 billion to America, including a profit of $22.7 billion. Wecontinue to thank America for its support.”