AIG Financial Products and Global Infrastructure Partners Complete Acquisition of London City Airport.

LONDON -- AIG Financial Products Corp. (AIG-FP), a wholly owned subsidiary of American International Group, Inc. (AIG), and Global Infrastructure Partners (GIP), the infrastructure joint venture between Credit Suisse and GE Infrastructure, announced today that they have completed the acquisition of 100% of the share capital of the company that owns and operates the business known as London City Airport ("the Airport") from Airport Management and Investment Limited. Pursuant to the terms of the deal, AIG-FP and GIP will each own 50% of the equity interest of the company that owns the Airport.

This transaction was originally announced on October 11, 2006, and completion had remained subject to merger clearance by the European Commission. The European Commission granted its merger approval on November 23, 2006.

London City Airport, which is located in the Royal Docks, in the London Borough of Newham in East London, is a unique infrastructure investment within Europe. The Airport predominantly serves business travelers to and from London from a convenient location close to prime London business districts. London City Airport is located less than three miles from Canary Wharf, six miles from the City of London, and 10 miles from the West End. The Airport is used by 15 different airlines, which operate flights to 31 destinations within the United Kingdom and across Europe; it also ranks as the third largest corporate aviation facility in the United Kingdom.

The new shareholders are committed to working with existing management and local authorities to build on the Airport's past success and its significant contribution to the community it services.

Financing for the transaction was provided by The Royal Bank of Scotland and Credit Suisse ("the Arrangers"). The Arrangers have informed AIG-FP and GIP that syndication books are anticipated to close successfully next week.

"London City Airport is an extremely attractive asset with tremendous potential," said Joseph Cassano, President of AIG-FP. "Completion of the acquisition of London City Airport represents a major achievement for AIG-FP and our partners, and reflects the depth and flexibility of AIG Financial Products' global business platform."

Notes to Editors:

The financial terms of the transaction have not been disclosed.

About AIG Financial Products Corp.

AIG Financial Products Corp. (AIG-FP) is a wholly owned subsidiary of American International Group, Inc., world leaders in insurance and financial services. Founded in 1987, AIG-FP was one of the first companies focused principally on the derivatives markets in the United States. AIG-FP is active in a full spectrum of OTC derivative and structured products markets, including commodities, credit, energy, equities, foreign exchange, and rates. As leading participants in the capital and derivatives markets, AIG-FP provides clients with corporate finance, investment, and financial risk management solutions. AIG-FP's clients include many of the world's top corporations, investment managers, pension funds, banks, investment banks, sovereigns, hedge funds, foundations and endowments, as well as select high-net-worth individuals. With group offices in London, Paris, Tokyo, Houston, Hong Kong, and Wilton, Connecticut, AIG-FP has extensive global reach. For additional information please refer to http://www.aigfp.com.

About American International Group, Inc.

American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services, and asset management around the world. AIG's common stock is listed in the U.S. on the New York Stock Exchange as well as the stock exchanges in London, Paris, Switzerland, and Tokyo.