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Fitch assigns ‘AA+’ IFS rating to AIG MEMSA insurance company

United Arab Emirates: Monday, September 25 - 2006 @ 14:22

Charles Bouloux said, “This is a great step forward for our organization, and allows the region to further benefit from one of the highest rated companies in the world”.

Fitch Ratings-Chicago-September 20,2006: Fitch Ratings has assigned a ‘AA+’ Insurer Financial Strength (IFS) rating to AIG MEMSA, Insurance Company (AIG MEMSA). The Rating Outlook is stable.

Fitch’s rating reflects explicit support in the form of an unconditional and irrevocable insurance obligation guarantee between AIG MEMSA and American International Underwriters Overseas, Ltd. (AIUO). AIUO is a wholly-owned subsidiary of American International Group, Inc. (AIG).

Fitch’s rating on AIG MEMSA also reflects implicit support derived from AIG’s long history of successfully conducting operations on a world-wide basis, excellent worldwide brands, and strong operating results.

AIG MEMSA is a recently formed wholly-owned subsidiary of AIUO domiciled in the Dubai International Financial Center, United Arab Emirates.

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Monday, September 25- 2006 @ 14:22 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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