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AMERICAN INTERNATIONAL GROUP CONSOLIDATES EUROPEAN INVESTMENT MANAGEMENT OPERATIONS IN NEW COMPANY

 AMERICAN INTERNATIONAL GROUP CONSOLIDATES EUROPEAN
 INVESTMENT MANAGEMENT OPERATIONS IN NEW COMPANY
 NEW YORK, March 10 /PRNewswire/ -- American International Group, Inc. (NYSE: AIG) (AIG) has consolidated its investment management operations in the European Community under AIG Investment Corporation (Europe) Inc. (AIGIC Europe), headquartered in London.
 "This consolidation will expand and enhance the efficiency of our European asset management activities and services on behalf of clients and AIG member companies," said Edward E. Matthews, AIG vice chairman, finance and chairman of AIG Investment Corporation.
 Patrick Dempsey has been appointed managing director of AIGIC Europe and will serve as AIG's chief investment officer for the E.C. Dempsey continues as managing director of Dempsey & Company International, in London, an AIG affiliate that manages European equity and fixed income portfolios for pension funds and institutional investors.
 Kevin McLoughlin will serve as AIG senior investment officer for the E.C. Previously he was responsible for the invested assets of UNAT, S.A. and ALICO, S.A. both member companies of AIG in Europe.
 Niall Sommerville has been promoted to senior country officer for the AIG financial services companies in Dublin. Dublin serves as the global service center for offshore fund management and back office services for AIG's international investment portfolios.
 AIGIC, a member company of AIG, serves as advisor for most of AIG's investment assets outside the United States and specializes in international asset management, fixed-rate long-term financing, merchant banking and corporate advisory services.
 AIG is the leading U.S.-based international insurance organization and the nation's largest underwriter of commercial and industrial coverages. It's member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services businesses. American International Group, Inc.'s common stock is listed on the New York Stock Exchange as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
 -0- 3/10/92
 /CONTACT: Michael Forman of AIG, 212-770-3144/
 (AIG) CO: American International Group, Inc. ST: New York IN: INS SU:


SM -- NY048 -- 6886 03/10/92 12:14 EST
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Publication:PR Newswire
Date:Mar 10, 1992
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