AIG Board of Directors Refuses to Join Starr Lawsuits

Wed Jan 9, 2013 3:02pm EST

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

NEW YORK--(Business Wire)--
American International Group, Inc. (NYSE: AIG) today made the following
announcement regarding the demand served on the AIG Board of Directors related
to lawsuits filed by Starr International Company, Inc. (Starr) contesting
certain 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, the AIG
Board has considered Starr`s demand that AIG pursue the shareholder derivative
claims belonging to AIG that Starr has alleged against the United States of
America and the Federal Reserve Board of New York. 

The AIG Board has determined to refuse Starr`s demand in its entirety, and will
neither pursue these claims itself nor permit Starr to pursue them in AIG`s

AIG expects to file with the courts a formal statement detailing the Board`s
determination and the reasons underlying it in the coming weeks. 

"In considering and ultimately refusing the demand before us, the Board of
Directors properly and fully executed our fiduciary and legal obligations to AIG
and its shareholders," said Robert S. "Steve" Miller, Chairman of the AIG Board
of Directors. "America invested in 62,000 AIG employees, and we kept our promise
to rebuild this great company, repay every dollar America invested in us, and
deliver a profit to those who put their trust in us. To date, AIG has returned
$205 billion to America, including a profit of $22.7 billion. We continue to
thank America for its support." 

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: |

American International Group, Inc.
Jon Diat, 917-239-9241
Jim Ankner, 212-770-3277
Liz Werner, 212-770-7074

Copyright Business Wire 2013
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