AIG Announces Secondary Offering Of Its Shares In Transatlantic Holdings, Inc. (TRH)

NEW YORK -- May 28, 2009 -- American International Group, Inc. (AIG) announced that Transatlantic Holdings, Inc. (NYSE: TRH) has filed a preliminary prospectus supplement with the U.S. Securities and Exchange Commission with respect to the proposed public offering of 26 million shares of TRH common stock owned by AIG and its subsidiaries in an underwritten offering.

The underwriters will have a 30-day option to purchase up to an additional 15 percent of the offered amount of TRH common stock from AIG and its subsidiaries. TRH will not sell any shares in the offering.

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AIG and its subsidiaries currently own approximately 39.1 million shares of TRH common stock, or approximately 59 percent of the outstanding shares. Following the offering, AIG and its subsidiaries will own approximately 19.7 percent of the outstanding shares, or 13.9 percent if the underwriters’ option is fully exercised.

J.P. Morgan, Goldman, Sachs & Co., and Morgan Stanley are joint book-running managers with Lazard Capital Markets as co-lead underwriter. Dowling & Partners and Fox-Pitt Kelton Cochran Caronia Waller are acting as co-managers of the offering.

Source: American International Group, Inc.