American International Assurance Company (Bermuda) Limited

Hong Kong, September 15, 2005 - Thirty-two young leaders successfully completed the Young Leaders Development Program 2005 organized by the AIA Foundation. Three group and one individual awards are presented and this year, all the award winners are from The University of Hong Kong. At today's award presentation ceremony, AIA Foundation Scholarships were also awarded to 19 students from universities in Hong Kong and Macau.

Honourable guests at the ceremony included Mr Tony Wilkey, Deputy President of American International Assurance Company, Limited; Mr. Lam Mun-dart, Alwin, Executive Vice President of the AIA Foundation; Prof. Chen Kwan-yiu, Edward, President of Lingnan University; Mr. Wong Wang-fat, Andrew; and representatives of universities and sponsors of the Program. Prof. Chen and Mr. Wong are also Honorary Advisors of the Young Leaders Program.

Speaking at the ceremony, Mr. Alwin Lam said: "Since its establishment in 1995, the AIA Foundation has always been committed to the education area. Both AIA Foundation Scholarships and Young Leaders Program are important education initiatives of the Foundation and we are grateful that these initiatives have enhanced the growth of the young people in Hong Kong. We will continue to provide such valuable programs with an aim to nurture the next generation. Indeed, I am very pleased to announce the addition of two scholarships to students of The Hong Kong Institute of Education in the coming academic year."

The AIA Foundation Scholarship was launched in 1995 to provide financial support to university students in Hong Kong and Macau in recognition of their outstanding academic performances and strong involvement in social services. Together with the 19 scholarship recipients this year, the AIA Foundation has granted scholarships of over HK$3 million to more than 174 students in Hong Kong and Macau over the past 10 years.

Also benefiting university students, the Young Leaders Development Program is a personal development program established in 1996 and designed to unleash their potential through a series of leadership training courses. Students from The University of Hong Kong performed exceptionally well this year and won the "The Best Report-Writing Award", "Best Presentation Award" and "The Most Outstanding Team Award". Mr. Kan Wai-man, Raymond, Medicine student from the same university, won the "The Most Outstanding Young Leader Award".

The theme of the Young Leaders Program 2005 is "Commit Today for Tomorrow". Over the past 5 months, 32 young leaders from seven local universities have attended 12 diversified training workshops, including Leadership Workshops, Adventure Leadership Training Camp and Social Service Workshop. An overseas study tour to Singapore took place in this July.

Highlights of the Program included Speakers Platform, which has given the young leaders a valuable chance to learn from outstanding leaders in the society. This year's list of guest speakers included Prof. Chen Kwan-yiu, Edward, President of Lingnan University; Dr. Fung Hong, Hospital Chief Executive of Prince of Wales Hospital, Hospital Authority; Ms. Lee Lai-kuen, Shelly, Permanent Secretary for Home Affairs, HKSAR Government; and Mr. Lo Hong-sui, Vincent, Chairman of Shui On Group.

Established in April 1995 under the initiative of American International Assurance Co., Ltd, AIA Foundation is a non-profit-making organization set up to extend support to worthwhile charitable causes. The objective of the Foundation is to assist educational, medical, sports and community programs.

AIA is Southeast Asia's largest life insurer, with branch offices, subsidiaries and affiliated companies located in countries and jurisdictions including Australia, Brunei, China, Guam, Hong Kong, India, Indonesia, Japan, Macau, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. AIA markets a full line of life insurance products through a multi-channel distribution system, whose core franchise is an extensive agency force. AIA is a wholly-owned subsidiary of American International Group, Inc. (AIG), the world's leading international insurance and financial services organization.