Exhibit 99.1
FOR IMMEDIATE RELEASE
Contacts:
Jon Diat (Media) (C): 917-239-9241; jon.diat@aig.com
Jim Ankner (Media) (C): 917-882-7677; james.ankner@aig.com
Liz Werner
(Investors) elizabeth.werner@aig.com
AMERICAN INTERNATIONAL
GROUP, INC. ANNOUNCES CONSENT SOLICITATION FOR THE HOLDERS OF ITS 8.125% DEBENTURES DUE 2023, 7.05% NOTES DUE 2025, 7.00% NOTES DUE 2026 AND 5.60% DEBENTURES DUE 2097
NEW YORK, November 30, 2012 American International Group, Inc. (NYSE:AIG) (AIG) today announced that it has commenced a solicitation of consents (the Consent
Solicitation) from holders of record at 5:00 p.m., New York City time, on November 29, 2012 (the Record Date) of its 8.125% Debentures Due 2023, 7.05% Notes Due 2025, 7.00% Notes Due 2026 and 5.60% Debentures Due 2097 (the
Securities) to amend (the Proposed Amendment) the Senior Indenture, dated as of April 15, 1993, as supplemented by the Supplemental Indenture, dated as of June 28, 1993, the Supplemental Indenture, dated as of
October 28, 1996, and the Third Supplemental Indenture, dated as of January 1, 1999 (as so supplemented, the Indenture), in each case between AIG (as successor to SunAmerica Inc.) and The Bank of New York Mellon Trust Company,
N.A. (as successor to the First National Bank of Chicago), as Trustee (the Trustee). The Proposed Amendment seeks to permit intercompany transfers of Voting Stock of Restricted Subsidiaries (as those terms are defined in the Indenture):
(i) to AIG; (ii) to any other Restricted Subsidiary that is, and following such transaction or series of transactions would remain, wholly owned by AIG, directly or indirectly (including through an entity that is not a Restricted
Subsidiary), or to one or more entities that are wholly owned by such a Restricted Subsidiary; (iii) to an entity that, as a result of such transaction or series of transactions, would become a Restricted Subsidiary that meets the requirements
of clause (ii); or (iv) in a merger of a Restricted Subsidiary with and into another Restricted Subsidiary or AIG. The Proposed Amendment requires the consent of the holders of not less than a majority in aggregate principal amount of the
Securities outstanding as of the Record Date of all series affected by the Proposed Amendment (voting as one class) (the Requisite Consents). The complete terms and conditions of the Consent Solicitation will be as set forth in
AIGs Consent Solicitation Statement (the Statement) and the related Letter of Consent, to be distributed to holders of the Securities for their consideration. Holders of the Securities are urged to read the Statement and Letter of
Consent carefully.
The Consent Solicitation will expire at 5:00 p.m., New York City time, on December 12, 2012, unless extended or
earlier terminated by AIG in its sole discretion (the Expiration Time). The Proposed Amendment will become effective with respect to the Indenture and each series of the Securities upon receipt by AIG of the Requisite Consents that have
not been properly revoked and the execution by
FOR IMMEDIATE RELEASE
AIG and the Trustee of an indenture supplemental to the Indenture authorizing the Proposed Amendment. If AIG receives the required consent of holders of the Securities, holders who validly deliver their
consent in the manner described in the Statement prior to the Expiration Time, and do not validly revoke their consent in the manner described in the Statement, will be eligible to receive a consent fee of $2.50 for each $1,000 principal amount of
Securities for which such holder delivered its consent. Upon the effectiveness of the Proposed Amendment, the Indenture will be amended with respect to all holders of the Securities, including non-consenting holders and all subsequent holders of the
Securities; however, only holders validly delivering their consent will receive the consent fee.
Copies of the Statement and the Letter of
Consent may be obtained by holders of the Securities from the Information and Tabulation Agent for the Consent Solicitation, Global Bondholder Services Corporation, at (866) 470-3700.
Goldman, Sachs & Co. is the Solicitation Agent for the Consent Solicitation. Questions regarding the Consent Solicitation may be directed to Goldman, Sachs & Co., at (800) 828-3182.
None of AIG, the Information and Tabulation Agent, the Solicitation Agent, the Trustee or any of their respective affiliates makes any
recommendation as to whether holders of the Securities should deliver their consent to the Proposed Amendment pursuant to the Consent Solicitation, and no one has been authorized by any of them to make such a recommendation. Each holder of the
Securities must make its own decision as to whether to give its consent.
THIS NEWS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT
CONSTITUTE A SOLICITATION OF CONSENTS IN ANY JURISDICTION.
THE CONSENT SOLICITATION IS BEING MADE ONLY PURSUANT TO THE STATEMENT AND THE
LETTER OF CONSENT THAT THE INFORMATION AGENT WILL DISTRIBUTE TO HOLDERS OF THE SECURITIES. HOLDERS OF THE SECURITIES SHOULD CAREFULLY READ THE STATEMENT AND LETTER OF CONSENT PRIOR TO MAKING ANY DECISION WITH RESPECT TO THE CONSENT SOLICITATION,
BECAUSE SUCH DOCUMENTS CONTAIN IMPORTANT INFORMATION, INCLUDING THE VARIOUS TERMS OF, AND CONDITIONS TO, THE CONSENT SOLICITATION.
American
International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most
extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo
Stock Exchange.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit our website at