AIG Retirement Services, Inc. Names Peter A. Harbeck President and Chief Executive Officer of The AIG Advisor Group

Business Wire, June 3, 2004

Business Editors/Insurance Industry Writers

LOS ANGELES--(BUSINESS WIRE)--June 3, 2004

AIG Retirement Services, Inc., a member company of American International Group, Inc. (AIG), today announced that Peter A. Harbeck, President and Chief Executive Officer of AIG SunAmerica Asset Management Corp. (SAAMCo), has also been named President and Chief Executive Officer of the AIG Advisor Group. Concurrently, Harbeck has been named Executive Vice President of AIG Retirement Services, Inc. In this expanded role, he will assume executive responsibility for the AIG Advisor Group broker-dealers, which comprise one of the largest networks of independent financial planners in the nation.

In commenting on the announcement, Jay S. Wintrob, President and Chief Executive Officer of AIG Retirement Services, Inc. said, "Peter has been a loyal, dedicated member of our management team for many years and has proven himself a successful leader over the course of changing business environments. He has forged strong relationships with the AIG Advisor Group senior management team and is committed to the independent, entrepreneurial culture that is the cornerstone of this organization. We are confident that Peter's industry experience coupled with his in-depth knowledge of our organization will lead to expanded growth and opportunity for our broker-dealers."

Harbeck, who will continue to report to Mr. Wintrob, joined the Asset Management Division of Integrated Resources, Inc. in 1988 prior to its acquisition by SunAmerica Inc. in 1990. During his tenure with the Asset Management Division, he held various senior management positions including Chief Operating and Chief Administrative Officer. In 1995, he was appointed President and Chief Executive Officer of AIG SunAmerica Asset Management Corp.

Prior to joining the company, Harbeck served as Senior Vice President at Putnam Companies in Boston with responsibility for broker-dealer services and new system/product development. He began his 25-year financial services industry career with Barry W. Murphy & Co., Inc., where he was responsible for trading, clearance and new business in its retail discount brokerage division.

Harbeck, 50, is a native of Grand Haven, Michigan, and received his B.A. degree in American History from Harvard University in 1976. He holds NASD Series 7, 24, 27, 63 and 65 licenses.

With nearly 7,500 independent financial professionals, the AIG Advisor Group represents one of the largest independent broker-dealer networks in the United States and consists of Advantage Capital Corporation, FSC Securities Corporation, Royal Alliance Associates, Inc., Sentra Securities Corporation, Spelman & Co., Inc. and SunAmerica Securities, Inc. AIG Advisor Group is the marketing name for these broker-dealer subsidiaries of American International Group, Inc.

AIG SunAmerica Asset Management Corp. (SAAMCo), is the mutual fund and asset management business of AIG Retirement Services, Inc. and a member company of American International Group, Inc. (AIG). As of December 31, 2003, SAAMCo manages and/or administers 38 retail mutual funds and more than $40 billion of assets, including $9.3 billion in retail mutual funds and $30.6 billion of investments in assets underlying variable annuities.

American International Group, Inc. (AIG) is the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer. AIG's global businesses also include financial services, retirement services and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.