AIG announced that Chairman and CEO Edward Liddy will step down after replacements are found.

* Says Liddy has recommended to the board that the chairman and CEO roles be


* Says board concurs with Liddy's recommendation

* Says intends to conduct a search to fill each position

* Says Liddy determined co should also initiate necessary actions to install

more permanent leadership team and structure

* Says search will include participation by both the reconstituted board and

the trustees of the AIG credit facility trust