Ratings On 53 AIG-Related Housing Bond Issues Put On CreditWatch Developing

NEW YORK NY--Standard & Poor's Ratings Serviceshas placed 53 housing bond issues, including one Section 8 issue and three military housing issues, on CreditWatch with developing implications.

This action follows Standard & Poor's Sept. 17, 2008, placement of American International Group Inc. (AIG) on CreditWatch with developing implications.

All affected bond issues receive partial support in the form of guaranteed investment contracts (GICs) from American International Group, AIG Matched Funding Corp., or AIG Financial Products Corp.

A complete list of the affected bonds may be obtained by contacting Edward Sweeney, S&P media contact, New York, (1) 212-438-6634 edward_sweeney@standardandpoors.com

Analyst Contacts: Renee J Berson, New York (1) 212-438-7966. Valerie White, New York (1) 212-438-2078