$5.36 BILLION LOSS!!!!!!!!!

Why is this guy not smiling?

AIG REPORTS SECOND QUARTER 2008 RESULTS
NEW YORK, NY, August 6, 2008 – American International Group, Inc. (AIG)
today reported a net loss for the second quarter of 2008 of $5.36 billion or $2.06 per diluted
share compared to 2007 second quarter net income of $4.28 billion or $1.64 per diluted
share. Second quarter 2008 adjusted net loss, as defined below, was $1.32 billion or $0.51
per diluted share, compared to adjusted net income of $4.63 billion or $1.77 per diluted
share for the second quarter of 2007. The continuation of the weak U.S. housing market and
disruption in the credit markets, as well as global equity market volatility, had a substantial
adverse effect on AIG’s results in the second quarter.

Net loss for the first six months of 2008 was $13.16 billion or $5.11 per diluted
share, compared to net income of $8.41 billion or $3.21 per diluted share in the first six
months of 2007. Adjusted net loss for the first six months of 2008 was $4.88 billion or
$1.90 per diluted share, compared to adjusted net income of $9.02 billion or $3.44 per
diluted share in the first six months of 2007.