American International Life Assurance Company of New York to Provide Accidental Death & Dismemberment Coverage to U.S.-Based Remittance Customers of the National Bank of Pakistan.

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 16, 2004

American International Life Assurance Company of New York (AILIFE), a member company of American International Group, Inc. (AIG), today announced that it will provide $10,000 of Accidental Death & Dismemberment (AD&D) insurance coverage* to U.S.-based remittance customers of the National Bank of Pakistan (NBP).

Presently, there are more than 700,000 Pakistani nationals living and working in the United States, who together control approximately $250 billion in assets and average $300 - $500 in remittance per month. Those who remit funds for distribution overseas through the National Bank of Pakistan will automatically receive the AD&D coverage at no additional cost to the customer; the NBP is paying the premium costs on the customers' behalf.

"This is the first program of its kind that we are making available to the remittance population in the United States," said Nicolas C. Walsh, President and Chief Executive Officer, American International Underwriters. "We are pleased to work with the National Bank of Pakistan to provide such an important service and anticipate that this coverage will bring significant added value to the Bank's customers."