CHICAGO (Nov. 15, 2001) — The Chicago Board of Trade (CBOT®), Dow Jones Indexes(sm) and AIG Trading Group Inc. (AIG Trading), a member company of American International Group, Inc. (NYSE: AIG), will launch a futures contract on the Dow Jones-AIG Commodity Index(sm) (DJ-AIGCI) on November 16th, on the CBOT’s electronic trading platform.

The cash-settled contract will allow a broad sector of market participants to hedge commodity and inflation exposure, achieve portfolio diversification, and take advantage of arbitrage opportunities among the various index components. The Dow Jones-AIG Commodity Index is designed to be a liquid and diversified benchmark for commodities as an asset class. Potential benefits of the DJ-AIGCI include positive returns over time and negative correlation with equities and bonds. Academic research has demonstrated that investments in commodities can provide unique portfolio diversification benefits.

AIG International Inc., a subsidiary of AIG Trading, will act as the initial market maker for the futures contract, providing liquidity during market hours. In addition, the futures contract offers pricing transparency, leverage, and the financial safeguards of the AAA rated Board of Trade Clearing Corporation. The DJ-AIGCI futures contract can also be used in an Exchange of Futures for Swaps (EFS) transaction, providing added flexibility for investors.

CBOT Executive Vice President Bernard Dan said, “This contract combines the indexing experience of Dow Jones Indexes and the commodities expertise of AIG Trading with the CBOT’s unmatched liquidity and market integrity. It has the potential to become the preeminent commodity index futures product, and will promote trading opportunities for institutional investors and our members.”

Adam De Chiara, Senior Vice President of AIG Trading, said, “The DJ-AIGCI represents an innovative and compelling approach to this asset class. The Index design emphasizes broad-based and diversified exposure to commodities along with liquidity and ease of implementation. The CBOT contract will provide market participants the opportunity to hedge inflation exposures and express macro-economic views on real asset prices.”

“We are very pleased that the launch of the Dow Jones-AIG Commodity Index not only expands Dow Jones Indexes’ presence on the CBOT but also does so with an indexed product that offers investors true diversification possibilities,” said David E. Moran, President of Dow Jones Indexes. “We will continue working with AIG Trading to bring the benefits of the Dow Jones-AIG Commodity Index to a broadening segment of investors worldwide.”

The 20 Commodities currently in the DJ-AIGCI(sm) are :

• Aluminum
• Cattle
• Cocoa
• Coffee
• Copper
• Corn
• Cotton
• Crude Oil
• Gold
• Heating Oil
• Hogs
• Natural Gas
• Nickel
• Silver
• Soybeans
• Soybean Oil
• Sugar
• Unleaded Gas
• Wheat
• Zinc

Click here for DJAIGCI contract specifications. The DJ-AIGCI appears daily on pages A1 and C1 of The Wall Street Journal and can be accessed on Reuters Page AIGCI1.

About Chicago Board of Trade

Providing a diverse mix of financial and commodity futures and options-on-futures products, the Chicago Board of Trade advances into the 21st Century on the strength of over 150 years of member-trader expertise, unparalleled liquidity, and market integrity. Via open outcry and screen-based trading, the CBOT provides premier customer service to risk managers and investors worldwide. Established in 1848, the CBOT was launched originally for agricultural producers to achieve price protection.

Today, CBOT members trade more than 60 different products, including futures and options-on-futures on U.S. Treasury bonds and notes, the Dow Jones Industrial Average and other Dow Jones indices, Agency debt, a Municipal Bond index, and Mortgages.

About AIG Trading Group Inc.

AIG Trading Group Inc., through its subsidiaries, engages in trading and market making in foreign exchange, emerging market debt, precious and base metals, energy products and commodity indices. AIG Trading provides highly personalized customer service and creates innovative risk management products for multinational corporations, financial institutions, commercial producers and users, institutional investors and sovereign entities. AIG Trading’s breadth of services include currency and commodities prime brokerage, client-tailored back-office support, and access to e-commerce trading portals and insightful political-economic research from leading figures in the financial services industry. AIG Trading operates through a worldwide network of offices including its Greenwich, Connecticut headquarters, London, Paris, Singapore, and Toronto.

About American International Group, Inc.

AIG is the leading U.S.-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial, personal and life insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG’s global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. American International Group, Inc.’s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

Disclaimer

Past performance is not indicative of future results. “Dow Jones” and “AIG” are service marks of Dow Jones & Company, Inc. and American International Group, Inc. (“AIG”), as the case may be, and have been licensed for use for certain purposes. Dow Jones does not sponsor, promote, or sell any product based on the Dow Jones-AIG Commodity Index and none of Dow Jones, AIG or AIG Trading Group Inc. and their respective affiliates make any representation herein regarding the advisability of investing in any product based on the Index. For futures trading, the rules and regulations of the Chicago Board of Trade should be consulted as the authoritative source on all current contract specifications and regulations.