AIG Closes Its Secondary Offering of Shares in Transatlantic Holdings, Inc.

NEW YORK--(Business Wire)--
American International Group, Inc. (AIG) announced today that it has closed the
previously announced public offering of 29.9 million shares of Transatlantic
Holdings, Inc. (NYSE: TRH) common stock owned by AIG and its indirect
subsidiary, American Home Assurance Company (AHAC) for aggregate gross proceeds
of $1.136 billion. TRH will not receive any of the proceeds from the secondary
offering.

This transaction enabled AHAC, a subsidiary of AIU Holdings, Inc. (together with
AIU Holdings LLC, "AIU Holdings"), to monetize part of its investment in TRH to
improve the quality of its capital and help position AIU Holdings for continued
success.

The secondary offering was made through a syndicate of underwriters, led by J.P.
Morgan Securities Inc., Goldman, Sachs & Co., and Morgan Stanley & Co. as joint
book-running managers with Lazard Capital Markets LLC as co-lead underwriter.
Dowling & Partners and Fox-Pitt Kelton Cochran Caronia Waller acted as
co-managers of the offering.

At the close of the secondary offering AHAC owns 9,192,662 common shares of
Transatlantic Holdings, Inc. representing approximately 13.9 percent of
Transatlantic Holdings Inc.`s common shares issued and outstanding.

American International Group, Inc. (AIG), a world leader in insurance and
financial services, is the leading international insurance organization with
operations in more than 130 countries and jurisdictions. AIG companies serve
commercial, institutional and individual customers through the most extensive
worldwide property-casualty and life insurance networks of any insurer. In
addition, AIG companies are leading providers of retirement services, financial
services and asset management around the world. AIG's common stock is listed on
the New York Stock Exchange, as well as the stock exchanges in Ireland and
Tokyo.

AIG
News Media:
Peter Tulupman, 212-770-3141
or
Investment Community:
Teri Watson, 212-770-7074

Copyright Business Wire 2009