AIG Financial Products Corp. Hires James McGinnis as Managing Director for Energy Team; New Hire Broadens Company's Power & Energy Capabilities.

WILTON, Conn. -- AIG Financial Products Corp. (AIG-FP) today announced that it has hired James P. McGinnis as Managing Director for its energy team. Mr. McGinnis joined the company July 11, 2005 and works out of the AIG-FP headquarters office in Wilton, CT. With the addition of Mr. McGinnis, AIG-FP continues to broaden its energy team in the power and energy utility sector. The AIG-FP energy team now has ten senior professionals focused on developing principal investments, financing and hedging services directly with energy companies and via financial sponsors.

Mr. McGinnis has extensive experience as a power and energy industry specialist. He joins AIG-FP from Morgan Stanley, where he was managing director in the Global Energy and Utilities Group. While at Morgan Stanley, Mr. McGinnis was responsible for global coverage of selected public utilities. In addition to the traditional domestic investment banking activities of M&A and capital raising, he was responsible at different times for business in Asia and Australia, including the privatization of the state-owned electricity supply sector of South Australia.

Mr. McGinnis began his career with Goldman Sachs & Co. as a mergers & acquisitions and restructuring specialist in the Energy and Telecommunications Group. He holds a bachelors degree from Harvard College, and an MBA from Harvard Business School.

David Ackert, energy team leader and head of the AIG-FP Transaction Development Group, said, "Jim brings exceptional experience and background to an already deep and experienced AIG-FP energy team. His specialties, particularly in electric and gas utility companies, pipeline and midstream energy companies and independent power producers perfectly complement our well-seasoned team of power and oil and gas professionals."

Mr. Ackert continued, "AIG-FP's energy team focuses its substantial resources on unlocking value in the energy market by participating as a principal at all levels of the capital structure, as well as providing strategic solutions to clients. We are successfully leveraging the strength of our balance sheet, our relationships and our industry leading trading capabilities."

Joe Cassano, President of AIG-FP added, "Energy continues to be an important area of growth for AIG-FP as the industry continues to face growing capital requirements. As a diversified global business with an investment portfolio in excess of $50 billion and a trading platform comprising some 40 currencies, 18 commodities and a wide range of credit, equity and other financial products and indices, AIG-FP brings enormous resources and breadth of experience to the task of creating innovative solutions to address the needs of our global client base."

About AIG Financial Products Corp.

AIG Financial Products (AIGFP) is a wholly-owned subsidiary of American International Group, Inc. (NYSE: AIG) The AIGFP group has offices in London, Paris, Tokyo, Houston, and Wilton, CT. As a leading participant in the capital and derivatives markets, AIGFP provides its clients with corporate finance, investment and financial risk management solutions. AIGFP's clients include the world's top corporations, asset managers, insurance companies, banks, investment banks, sovereigns and high-net-worth individuals. AIGFP is an active trader/dealer in foreign exchange and in a full spectrum of derivative products markets including commodities, credit, energy, equity, and rates.