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AIG To Redeem 7.70% Junior Subordinated Debentures Due 2047

American International Group, Inc. (NYSE: AIG) today announced that it will redeem all of its outstanding 7.70% Series A-5 Junior Subordinated Debentures due 2047 (CUSIP No. 026874859) (NYSE: AVF) (the “Debentures”) on March 18, 2013 (the “Redemption Date”). On the Redemption Date, AIG will pay to the registered holders of the Debentures a redemption price of 100% of the principal amount outstanding, plus accrued and unpaid interest to, but excluding, the Redemption Date to holders of record at the close of business on March 15, 2013. As of March 7, 2013, $1,100,000,000 aggregate principal amount of Debentures were outstanding.

“This transaction marks another important milestone in delivering on AIG’s capital management goals and another example of our financial flexibility,” said Robert H. Benmosche, President and Chief Executive Officer of AIG. “In particular, the redemption reduces expensive debt, improves our interest coverage ratios, and puts us in a position to remain opportunistic with respect to liability management going forward.”

The Debentures are held only in book-entry form through the Depositary Trust Corporation (“DTC”). DTC will redeem the Debentures in accordance with its procedures and notify the holders. Holders of the Debentures need not take any action to receive payment of the redemption price.

This press release does not constitute a notice of redemption of the Debentures. Holders of the Debentures should refer to the notice of redemption to be delivered to the registered holders of the Debentures by The Bank of New York Mellon, the trustee with respect to the Debentures.

Certain statements in this press release, including those describing the completion of the redemption, constitute forward-looking statements. These statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are discussed throughout AIG’s periodic filings with the SEC pursuant to the Securities Exchange Act of 1934.

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