Singapore, April 12, 2006 – The number of terrorist incidents in South and Southeast Asia increased significantly from 168 cases in 2000 to 1,299 in 2005. In response to businesses’ growing concern and request for measures to safeguard their investment from terrorism risks, risk management experts from International Risk Ltd. and the general insurance operations of American International Group, Inc. in Southeast Asia (“AIG S.E. Asia”) presented their views on the latest trends of terrorism risks in the Southeast Asian region, and the support available to manage terrorism risk exposure in a seminar today. This terrorism risks seminar is organized by American Home Assurance Company, Singapore (AHA), a member company of AIG, for major businesses in Singapore. (*The national Memorial Institute for the prevention of terrorism)

“Southeast Asia has traditionally been a safe area and businesses tend to underestimate the risk exposure and its impact. As a result of a new trend of terrorist groups shifting from military targets to “soft” targets such as hotels, shopping malls, supermarkets, bars and discos, well considered businesses are now more aware of the needs to have a property terrorism insurance program. Recovering short term direct costs is no longer a solution – they want to have options of programs and tools to mitigate risk exposure that will meet the needs of their business”, said Les Mouat, Regional President, AIG S.E. Asia.

A terrorist attack can lead to significant economic losses, both as a direct consequence of the attack, as well as through the secondary or ripple effects felt around the affected area.

Steve Vickers, President and CEO of International Risk Ltd. - www.intl-risk.com presented on the evolving global threat of terrorism and highlighted key terrorist groups active in the region as well as current “hot spots” and new themes.

“The threat from terrorist activity has recently evolved. It is International Risk’s assessment that a new cycle of terrorist related activity may now be underway; this as a result of the emergence of new groups and a spill-over of social, ethnic and religious tensions into fully–fledged insurgencies by alienated groups- demanding greater autonomy or political change. Whilst much of this violence will likely take place in rural and peripheral regions, such as Southern Thailand, Nepal, Southern Philippines and parts of Indonesia the potential for terrorist attacks in major cities and areas used by or associated with foreigners is increasing. This may result in a pick up of bombings, kidnappings, extortion and other less spectacular practices.

In today’s competitive environment major companies need to be aware of the importance of risk mitigation measures, contingency planning and the ability to react to a crisis to ensure business continuity. ” said Steve Vickers.”

Entitled “Strategic Response to Terrorism Risks for Businesses”, the seminar provided a comprehensive look at Managing Terrorism Risk in Asia. Steve also discussed the concept of risk mitigation, as well as the importance of understanding the business impacts and putting in place a coordinated crisis management strategy and business continuity plans.

This by-invitation-only free interactive seminar attracted over 100 senior executives representing leading business from different industries in Singapore.
Registration greatly exceeded expectations, signaling the extraordinarily high level of interest for this critical risk management area.

About AIG

American International Group, Inc. (“AIG”), world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG’s common stock is listed in the U.S. on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

About International Risk Ltd.

International Risk, formerly the investigation and Risk mitigation arm of a Big Four accounting firm, is the Premier International Risk Mitigation and Investigation Company with a proven track record and reputation for integrity, independence and insight. From corporate scandals to political instability, companies today confront an ever increasing array of business, economic, political and security concerns that directly impact their operations and profitability. Headquartered in Hong Kong with offices in Singapore, Tokyo, New York, Beijing and San Francisco, International Risk assists clients mitigate these risks with critical information and timely solutions. Whether the task is to determine the reputation and suitability of a business partner, untangle a complex fraud scheme or contain a crisis, International Risk’s offers a comprehensive range of business risk solutions: investigative due diligence, `corporate investigations, fraud investigations, corporate security, brand protection, kidnap and ransom resolution, and crisis management assignments.

For more information, please contact:

Steve Vickers, President & CEO,
International Risk
(852) 3120-8688

steve.vickers@intl-risk.com