AIG Financial Products and Global Infrastructure Partners Agree on the Acquisition of London City Airport

AIG Financial Products Corp. (AIG-FP), a wholly-owned subsidiary
of American International Group, Inc., and Global Infrastructure
Partners (GIP), the infrastructure joint venture between Credit Suisse
and GE Infrastructure, announced today that they have signed a
definitive agreement to acquire 100% of the share capital of the
company that owns and operates the business known as London City
Airport (the "Airport") from Airport Management and Investment
Limited. Pursuant to the terms of the deal, AIG-FP and GIP will each
own 50% of the equity interest of the company that owns the Airport.

The Airport is located in the Royal Docks, in the London Borough
of Newham in East London. The Airport is unique in that it
predominantly serves business travelers to and from London, given its
convenient location. The Airport is less than three miles from Canary
Wharf, six miles from the City of London, and 10 miles from the West
End. It offers easy access to 27 destinations within the United
Kingdom and across Europe. The Airport also ranks as the third largest
corporate aviation facility in the United Kingdom.

The transaction remains subject to EU merger clearance and
currently is expected to close in November 2006.

"I am extremely pleased that AIG Financial Products and Global
Infrastructure Partners have been successful in their bid for London
City Airport," said Joseph Cassano, President of AIG-FP. "The airport
has tremendous potential, and this transaction is a very tangible
example of the breadth and capabilities of the AIG Financial Products
platform."

Adebayo Ogunlesi, Chairman and Managing Partner of Global
Infrastructure Partners, said, "We are pleased that London City
Airport is our first investment as it is a very high quality asset
which serves one of the world's most important aviation markets. We
are delighted to have AIG-FP as our partner in this investment."

Notes to Editors:

The financial terms of the transaction have not been disclosed.
Credit Suisse acted as financial adviser to AIG-FP and GIP. Linklaters
acted as legal adviser.

About AIG Financial Products Corp.

AIG Financial Products Corp. (AIG-FP) is a wholly-owned subsidiary
of American International Group, Inc., world leaders in insurance and
financial services. Founded in 1987, AIG-FP was one of the first
companies focused principally on the derivatives markets in the United
States. AIG-FP is active in a full spectrum of OTC derivative and
structured products markets, including commodities, credit, energy,
equities, foreign exchange, and rates. As leading participants in the
capital and derivatives markets, AIG-FP provides clients with
corporate finance, investment, and financial risk management
solutions. AIG-FP's clients include many of the world's top
corporations, investment managers, pension funds, banks, investment
banks, sovereigns, hedge funds, foundations and endowments, as well as
select high-net-worth individuals. With group offices in London,
Paris, Tokyo, Houston, Hong Kong, and Wilton, Connecticut, AIG-FP has
extensive global reach.

About American International Group, Inc.

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