AIG Member Cos. to Increase Investment Activity in Russia

July 30, 2003

American International Group Inc. announced the creation of a cooperative joint venture with the Interros Holding Company (Interros) of Moscow. The joint venture permits AIG companies and Interros to bring together their individual strengths to develop investment opportunities that AIG believes are available in Russia.

The AIG-Interros joint venture will generate new investment opportunities in dynamic, high-growth sectors of the Russian economy and seek to deploy significant amounts of capital.

“AIG companies have been operating in Russia for several years and we believe that in the present environment we have the opportunity to expand our business in the region,” said M.R. Greenberg, AIG chairman and CEO. “We are pleased to work with Interros in this joint venture and look forward to the new investment opportunities the joint venture will create.”

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