AIG Century GmbH & Co. KGaA (currently AHL 1. Morpheus GmbH & Co. KGaA): AIG Century GmbH & Co. KGaA announces a tender offer for AIRE GmbH & Co. KGaA

AIG Century GmbH & Co. KGaA announces a tender offer for AIRE GmbH & Co. KGaA

Frankfurt am Main, April 30, 2012 - AIG Century GmbH & Co. KGaA ('AIG Century') (currently AHL 1. Morpheus GmbH & Co. KGaA), a company indirectly wholly owned by American International Group, Inc. ('AIG'), today announced its decision to make a voluntary public takeover offer (the 'Offer') for all outstanding shares of AIRE GmbH & Co. KGaA ('AIRE'), a real estate investment company.

AIG Century intends to offer the AIRE shareholders as consideration for their shares a cash payment of EUR 17 per share. This represents a premium of approximately 74.56% above the estimated volume weighted average stock exchange (Xetra) price of AIRE shares (EUR 9.72) during the last 6 months to close of trading on April 27, 2012 and a premium of approximately 26.39% compared to the (Xetra) closing price (EUR 13.45) on April 27, 2012.

AIG currently holds 319,211 shares in AIRE (approximately 7.56% of the share capital of AIRE). Including these 319,211 shares and shares subject to share purchase agreements entered into by AIG, AIG Century has secured a total of 1,343,137 shares in AIRE (approximately 31.8% of the share capital of AIRE).

The Offer will be conditional on the acquisition by AIG Century of at least 75% of the outstanding AIRE shares (including all AIRE shares held by AIG Century) and other customary conditions.

The acceptance period will commence after approval of the offer document by the German Federal Financial Supervisory Authority (BaFin) and the publication of the offer document. AIG Century expects the offer to be completed within the third quarter of 2012.

Debevoise & Plimpton LLP is acting as legal counsel of AIG Century.

Further information relating to the Offer will be published on the internet at http://www.aigglobalrealestate.com/aigcentury.

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For further information, please contact:

Hans G. Nagl
FTI Consulting
+49 (0) 69 92037-116
hans.nagl@fticonsulting.com

Important Information:

This announcement is neither an offer to purchase or sell nor a solicitation of an offer to purchase or sell shares in AIRE GmbH & Co. KGaA or any other securities. The final terms and conditions of the offer will be communicated in the offer document still to be published. AIG Century reserves the right to change the terms and conditions of the offer to the extent legally permissible. Shareholders of AIRE GmbH & Co. KGaA are strongly advised to read the offer document and all other documents in connection with the takeover offer as soon as they have been published by AIG Century since these will contain important information.

About AIRE

AIRE (ISIN: DE 000 634 4211/WKN: 634421) is a publicly listed real-estate company with investments in North America, Europe and Asia. The original business strategy of AIRE aimed at earning returns for its shareholders by investing in a dynamic, actively managed and globally diversified real estate portfolio. Since 2008, AIRE has not made any new investments and has continued to fund commitments to existing investments and to existing funds in which it is an investor.

About AIG

AIG is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States of America.