AIG Global Real Estate Breaks Ground on Italian Shopping Center

February 3, 2006

AIG Global Real Estate Investment Corp., a member company of American International Group, Inc. announced the groundbreaking of the Freccia Rossa Shopping Center in Brescia, Italy.

“The Freccia Rossa Shopping Center is a 28,500 square-meter retail development in downtown Brescia, co-developed by venture partners Sonae Sierra and Coimpredil SpA,” said the bulletin. In translation the name means “red arrow,” in honor of the red arrows used to indicate the route in the world famous Mille Miglia auto race. It is located in the historical heart of the city of Brescia, outside of Milan, part of Italy’s strongest economic and industrial region, as part of the “Comparto Milano” urban renewal project that is reinvigorating a former industrial area.

“Freccia Rossa will offer the shopper a social and leisure experience as well as great shopping,” stated Kevin Reid, managing director for AIG Global Real Estate (Europe) Ltd. and portfolio manager for AIG European Real Estate Partners, L.P.

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