AIG SunAmerica Asset Management Corp. Launches Multi-Managed Closed-End Fund Focused on Large-Cap Stocks.

JERSEY CITY, N.J. -- SunAmerica Focused Alpha Large-Cap Fund Uses a Focused Approach To Stock Investing, Combining a Renowned Growth Manager and a Renowned Value Manager Marsico Capital Management, LLC and Mercury Advisors

AIG SunAmerica Asset Management Corp., the mutual fund and asset management business of AIG SunAmerica Retirement Services, announced the launch of the SunAmerica Focused Alpha Large-Cap Fund ("FGI"), a closed-end fund that brings together two experienced equity managers to invest in large-cap growth and large-cap value stocks. FGI is the second publicly-traded closed-end fund offered by AIG SunAmerica Asset Management Corp. The SunAmerica Focused Alpha Growth Fund ("FGF") was launched in July 2005.

In the initial public offering, 9,650,000 million shares (plus 1,447,500 shares with the overallotment option) were issued at $20 a share with a total of $221,950,000 million raised, assuming exercise of the overallotment option, which may not occur. Merrill Lynch, Pierce, Fenner & Smith Incorporated served as lead manager for the fund, which started trading today on the New York Stock Exchange under ticker "FGI."

"We are very pleased to offer this fund to the marketplace at this time," said J. Steven Neamtz, President of AIG SunAmerica Capital Services, Inc. "Large-cap stocks appear cheaper than small- and mid-cap equities as a result of years of relative underperformance. Our new fund brings together two highly experienced, world class large-cap managers who will choose some of their favorite stocks for the portfolio. By blending growth and value, the SunAmerica Focused Alpha Large-Cap Fund also brings additional balance to large-cap investing."

The new fund's objective is to provide growth of capital by using a focused style of investing in which each subadviser selects a minimum of 10 to a maximum 15 of their favorite stocks for their portion of the portfolio. Marsico Capital Management, LLC (Marsico) is the large-cap growth stock subadviser and Mercury Advisors (Mercury) is the large-cap value stock subadviser. These firms and the respective portfolio managers - Tom Marsico and Robert Doll - are well known for their expertise in large-cap stock investing.

Marsico also serves as one of the subadvisers to AIG SunAmerica Asset Management's first publicly-traded closed-end fund, SunAmerica Focused Alpha Growth Fund, as well as open-end funds managed by AIG SunAmerica Asset Management, including portions of the SunAmerica Focused Large-Cap Growth and Focused Growth and Income Portfolios. Doll serves as President and Chief Investment Officer of Merrill Lynch Investment Managers, of which Mercury Advisors is an investment advisory affiliate. Doll serves as a subadviser for a portion of the SunAmerica Focused Large-Cap Value Portfolio.

For more information about the SunAmerica Focused Alpha Large-Cap Fund and other offerings from AIG SunAmerica Asset Management, please visit www.sunamericafunds.com

AIG SunAmerica Asset Management Corp. is the mutual fund and asset management business of AIG SunAmerica Retirement Services and a member company of American International Group, Inc. As of November 30, 2005, AIG SunAmerica Asset Management managed and/or administered nearly $43 billion of assets including approximately $10.2 billion in 40 retail mutual funds.

AIG SunAmerica Retirement Services is a financial services company specializing in retirement savings. The company provides nearly four million Americans with retirement savings and investment products from AIG SunAmerica Life Assurance Company, First SunAmerica Life Insurance Company and SunAmerica Life Insurance Company. AIG SunAmerica Retirement Services is one of the largest issuers of fixed and variable annuities, through its national distribution network of registered representatives, independent broker-dealers, securities firms, banks and insurance agencies, equating to more than 133,000 financial professionals.

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 and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

Merrill Lynch Investment Managers, L.P., doing business as, Mercury Advisors and Marsico Capital Management, LLC are not affiliated with AIG or AIG SunAmerica Asset Management Corp.

Investors should carefully consider the SunAmerica Focused Alpha Large-Cap Fund's investment objective, strategies, risks, charges and expenses before investing. The Fund's prospectuses, which contain this and other information about the Fund, should be read carefully before investing. These securities are being offered and sold only by the underwriters and their selected dealers as described in the prospectus. For a prospectus, please call 800-858-8850, ext. 6003.

THE SUNAMERICA FOCUSED ALPHA LARGE-CAP FUND SHOULD BE CONSIDERED AS ONLY ONE ELEMENT OF A COMPLETE INVESTMENT PROGRAM. THE FUND'S EQUITY EXPOSURE AND DERIVATIVE INVESTMENTS INVOLVE SPECIAL RISKS. AN INVESTMENT IN THIS FUND SHOULD BE CONSIDERED SPECULATIVE.

--There is no assurance that the SunAmerica Focused Alpha Large-Cap Fund will achieve its investment objective. The Fund is actively managed and its portfolio composition will vary. Investing in the Fund is subject to several risks, including: Growth and Value Stock Risk, Key Adviser Personnel Risk, Investment and Market Risk, Issuer Risk, Foreign Securities Risk, Emerging Markets Risk, Income Risk, Hedging Strategy Risk, Derivatives Risk, Preferred Securities Risk, Debt Securities Risk, Small and Medium Capitalization Company Risk, Leverage Risk, Liquidity Risk, Market Price of Shares, Management Risk, Anti-Takeover Provisions Risk, Portfolio Turnover Risk and Non-Investment Grade Securities Risk. The price of shares of the Fund traded on the New York Stock Exchange will fluctuate with market conditions and may be worth more or less than their original offering price. Shares of closed-end funds often trade at a discount to their net asset value, but may also trade at a premium.

With respect to mutual funds managed by AIG SunAmerica Asset Management Corp. and distributed by AIG SunAmerica Capital Services, Inc., investors should carefully consider any mutual fund's investment objectives, strategies, risks, charges and expenses before investing. The mutual funds' prospectus, which contains this and other information about the funds, should be read carefully before investing. For a prospectus, please call 800-858-8850, ext. 6003.