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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TVbB2YD62TKs6t+pdSjbJL34BuL+k6QYFeEaElFVn99cQGBsGWBVclvCzqdFW/QL
 RW1Yo3LpspWg5yLmj3AFVw==

<SEC-DOCUMENT>0000950123-01-502040.txt : 20010509
<SEC-HEADER>0000950123-01-502040.hdr.sgml : 20010509
ACCESSION NUMBER:		0000950123-01-502040
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20010508

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN INTERNATIONAL GROUP INC
		CENTRAL INDEX KEY:			0000005272
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				132592361
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		
		SEC FILE NUMBER:	333-31024
		FILM NUMBER:		1625987

	BUSINESS ADDRESS:	
		STREET 1:		70 PINE ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10270
		BUSINESS PHONE:		2127707000

	MAIL ADDRESS:	
		STREET 1:		70 PINE STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10270

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN INTERNATIONAL ENTERPRISES INC
		DATE OF NAME CHANGE:	19700507
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>y48879e424b3.txt
<DESCRIPTION>AMERICAN INTERNATIONAL GROUP, INC.
<TEXT>

<PAGE>   1
                                                FILED PURSUANT TO RULE 424(b)(3)
                                                FILE NO.333-31024


                  PRICING SUPPLEMENT NO. 1 DATED MAY 8, 2001
              (TO PROSPECTUS SUPPLEMENT DATED JANUARY 26, 2001
                      AND PROSPECTUS DATED MARCH 3, 2000)

                      AMERICAN INTERNATIONAL GROUP, INC.

                         SERIES F, MEDIUM TERM NOTES

                               FIXED RATE NOTE

                   DUE 9 MONTHS OR MORE FROM DATE OF ISSUE

                               ----------------
<TABLE>

<S>                                                     <C>
Original Issue Date: May 11, 2001                       Purchasing Agent: J.P. Morgan Securities Inc.

Specified Currency: U.S. Dollars                        Purchasing Agent's Discount or
                                                        Commission (%):  0.096%
Principal Amount:   $28,875,000
                                                        Net Proceeds to the Company (%): 99.904%
Book Entry: Yes-DTC CUSIP #: 02687QAX6
                                                        Redemption Commencement Date (if any):  N/A
Certificated: N/A
                                                        Redemption Prices: N/A
Interest Rate: 4.52% per annum
                                                        Full Defeasance: Applies
Stated Maturity:  May 15, 2003
                                                        Covenant Defeasance: Applies
Issue Price (as a percentage of principal
amount): 100%                                           Interest Payment Dates: June 1 and
                                                        December 1, commencing  December 1, 2001
Selling Agent:  N/A

Selling Agent's Commission (%): N/A                     Regular Record Dates: May 15 and November 15


        "N/A" means not applicable.

         NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE
SECURITIES OR DETERMINED IF THIS PRICING SUPPLEMENT IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.

</TABLE>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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