Counsel for the State of Ohio, Goodkind Labaton Appointed Lead Counsel In Suit Against American International Group, Inc. -AIG-

Business Wire, Feb 18, 2005

NEW YORK -- The Attorney General of Ohio has retained Goodkind Labaton Rudoff & Sucharow LLP, one of the country's premier national law firms that represent individual and institutional investors in class action, complex securities and corporate governance litigation, to represent three of the State of Ohio's retirement systems as lead plaintiff in a class action lawsuit against American International Group, Inc. (AIG).

Litigation commenced against AIG after the company was implicated in Eliot Spitzer's investigation of the insurance industry for alleged bid-rigging and other fraudulent behavior.

"We intend to vigorously prosecute the case on behalf of all participants and beneficiaries affected by unfair practices in the insurance industry. Our goal is to help deter future violations of securities laws so that all shareholders are protected from fraudulent activities," stated Thomas A. Dubbs, attorney representing the State of Ohio. Goodkind Labaton also represents several other state pension funds for the State of New Mexico in other insurance fraud cases filed against The St. Paul Travelers Companies.

Preliminary damage estimates for the Ohio Public Employees Retirement System, the State Teachers Employees Retirement System of Ohio, and the Ohio Police & Fire Pension Fund range between $75 and $80 million, while damages to the entire class could be billions of dollars.

Counsel asks that any former employees of AIG with information relating to the true nature of its contingent-commission arrangements with Marsh & McLennan and other insurance brokers and their 'bid rigging' schemes contact Christopher J. Keller at 800-321-0476 and assist the Attorney General and State of Ohio in holding AIG insiders accountable for their actions.

Goodkind Labaton is co-counsel with the Cleveland, Ohio law firm of Hahn Loeser & Parks. The class action is currently pending in the United States District Court for the Southern District of New York.

For the Ohio Attorney General's announcement, please refer to http://www.ag.state.oh.us/press_releases/2005/pr20050215d.htm

About Goodkind Labaton

Lead Plaintiff is represented by Goodkind Labaton Rudoff & Sucharow LLP. The firm has been a champion of investor rights for over 40 years and has been recognized for its reputation for excellence by the courts. Goodkind Labaton was recently ranked fourth in total recoveries in 2004 among the top 50 plaintiffs' law firms by Institutional Shareholder Services (ISS), the world's leading provider of proxy and corporate governance services. Notably, Goodkind Labaton recovered over half a billion dollars for its clients last two years.