AIG Announces Pricing of Sale of Entire Remaining Stake in AIA Group Limited

Mon Dec 17, 2012 7:34pm EST

* Reuters is not responsible for the content in this press release.

NEW YORK--(Business Wire)--
American International Group, Inc. (NYSE: AIG) announced today that it has
priced the sale in Hong Kong of approximately 1.65 billion ordinary shares of
AIA Group Limited (AIA) by means of a placing to certain institutional
investors. This represents all of the AIA ordinary shares owned by AIG. 

Upon the closing of the placing, which is scheduled for December 20, 2012, in
Hong Kong, and is subject to customary closing conditions, AIG will receive
gross proceeds of approximately US$6.45 billion, based upon a purchase price of
HK$30.30 (approximately US$3.91) per share. AIG expects to use the net proceeds
from the placing of AIA ordinary shares for general corporate purposes. 

The ordinary shares have not been and will not be registered under the
Securities Act of 1933, as amended (the Securities Act), or any other applicable
law, and may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements of the Securities Act
and any other applicable law. 

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy the ordinary shares, nor shall there be any sale of the ordinary
shares in any jurisdiction in which such offer, solicitation, or sale would be
unlawful. This press release is not for distribution or release in or into the
Hong Kong Special Administrative Region of the People`s Republic of China. 

This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. In particular, no
assurance can be given that AIG will be able to complete the placing of the AIA
ordinary shares, or, if completed, what the net proceeds will be from the
placing. These forward-looking statements are not historical facts but instead
represent only AIG`s belief regarding future events, many of which, by their
nature, are inherently uncertain and outside AIG`s control. Except for AIG`s
ongoing obligation to disclose material information as required by federal
securities laws, AIG is not under any obligation (and expressly disclaims any
obligation) to update or alter any projections, goals, assumptions, or other
statements, whether written or oral, that may be made from time to time, whether
as a result of new information, future events or otherwise. 

American International Group, Inc. (AIG) is a leading international insurance
organization serving customers in more than 130 countries and jurisdictions. AIG
companies serve commercial, institutional, and individual customers through one
of the most extensive worldwide property-casualty networks of any insurer. In
addition, AIG companies are leading providers of life insurance and retirement
services in the United States. AIG common stock is listed on the New York Stock
Exchange and the Tokyo Stock Exchange. 

Additional information about AIG can be found at | YouTube: |Twitter: @AIG_LatestNews| LinkedIn: | 

AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International Group,
Inc. For additional information, please visit our website at All
products and services are written or provided by subsidiaries or affiliates of
American International Group, Inc. Products or services may not be available in
all jurisdictions, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent third
parties. Certain property-casualty coverages may be provided by a surplus lines
insurer. Surplus lines insurers do not generally participate in state guaranty
funds, and insureds are therefore not protected by such funds.

American International Group, Inc.
Jon Diat (Media): 917-239-9241;
Jim Ankner (Media): 917-882-7677;
Liz Werner (Investors): 212-770-7074;

Copyright Business Wire 2012