STATEMENT ISSUED ON BEHALF OF HANK GREENBERG Mr. Greenberg is pleased that after a four-and-a-half year investigation involving the review of millions of pages of documents and numerous depositions, the SEC has now concluded not to charge Mr. Greenberg with any fraud. Despite AIG’s settlement of charges of civil securities fraud and the company’s payment of $800 million to settle SEC charges of civil securities fraud, the SEC concluded that the only charge that it would make against Mr. Greenberg was a “control person” charge under Section 20(a) of the Exchange Act. As the SEC acknowledges, Mr. Greenberg does not admit even this claim, although he acknowledges the obvious fact that he was CEO of AIG at the time of the accounting at issue. He believes that this is an appropriate basis to resolve the SEC’s investigations and put these issues behind him. Shortly after Mr. Greenberg resigned as AIG’s CEO in 2005, AIG settled SEC charges of securities fraud by paying $800 million and restated its financials by more than $2 billion. Mr. Greenberg has consistently made clear that he personally never engaged in any fraud whatsoever and that the vast majority of AIG’s Restatement was unnecessary and concerned accounting issues for which he had no responsibility. He also made clear to the SEC that he would never settle a charge of securities fraud, even if the settlement did not require him to admit the charge, and that he was confident that he could defeat in court any such claim if it were made. Mr. Greenberg is also pleased that the settlement recognizes that between 97% and 99% of AIG’s Restatement was either unnecessary or involved accounting for which Mr. Greenberg was not responsible even as a control person. As the SEC has noted, AIG’s 2005 Restatement “shaved approximately $2.26 billion from shareholders equity” and reduced “AIG’s retained earnings” by 10%. The total reduction in shareholder’s equity resulting from the accounting transactions included in the SEC’s “control person” charge against Mr. Greenberg was approximately $30 million – around 1% of the $2.26 billion Restatement reductions. The total reductions in AIG’s retained earnings resulting from the accounting transactions included in the SEC’s “control person” charge was approximately one-third of one percent – approximately 3% of the Restatement reduction referred to by the SEC. Mr. Greenberg appreciates the SEC’s recognition that he personally should not be charged with any fraud and the settlement is recognition of his lack of responsibility, even as a control person, for the vast majority of accounting issues included in AIG’s Restatement and the SEC’s charges against the company. He is also pleased to finally put these issues behind him and be able to concentrate on building for the future.