American International Assurance Company (Bermuda) Limited

September 22, 2006, Hong Kong – The Young Leaders Development Program organized by AIA Foundation celebrates its 10th anniversary this year. Thirty-four young leaders have successfully completed the program. To recognize and congratulate them on their outstanding performance, AIA Foundation presented them with prizes and certificates during an award presentation ceremony today. AIA Foundation Scholarships were also awarded to 21 students from universities in Hong Kong and Macau.

Honourable guests at the ceremony included Mr. Alwin Lam, Executive Vice President of the AIA Foundation; Mr. Derek Yung, Program Director of the AIA Foundation; Mr. Ross Matthews, President of AIG Greater China Limited; Mr. Chris Townsend, President and Managing Director of American International Underwriters, Limited. They were joined by Honorary Advisors of the Young Leaders Program including Dr. Eric Li, Senior Partner of Li, Tang, Chen & Co.; Prof. Tsui Lap Chee, Vice Chancellor of The University of Hong Kong and Mr. Andrew Wong, JP.

Speaking at the ceremony, Mr. Alwin Lam said, ¨Since its establishment in 1996, the Young Leaders Development Program has always enjoyed strong support from all sectors of society and the local universities. Over the years, the program has achieved excellent results and recorded a total of 280 participants. To celebrate our 10th Anniversary, the theme, ˉBuild from a Decadeˇs Successˇ has been adopted, and the program content has been strengthened to provide participating students with more comprehensive and in-depth training. Building on the solid fundamentals established over the past decade, the AIA Foundation will continue to invest more resources to fulfil our commitment to nurturing more young leaders and create a better and prosperous future for Hong Kong.〃

34 students from the seven local universities were selected to participate in the 2006 Young Leaders Development Program. Mr. Huang Hon from The Hong Kong University of Science and Technology won the ¨The Most Outstanding Young Leader Award〃 for his overall performance as well as the content and presentation of his research project, whilst ¨The Most Outstanding Team Award〃 also went to The Hong Kong University of Science and Technology. Students from The University of Hong Kong performed well in the research project and won both ¨Best Report-Writing Award〃 and ¨Best Presentation Award〃.

Through a series of workshops, the program aims to develop the abilities of young leaders in problem solving, strategic thinking as well as team building. It also aims to enhance students' expression of ideas, and logical and critical thinking. The young leaders are also given an opportunity to participate in community services to enhance their social awareness.

Over the past five months, the 34 young leaders have attended a series of training workshops, including Orientation Training Camp, Communication Skills Workshop, Social Service Workshops I & II and Adventure Leadership Training Camp. In its 10th year, the program also included a variety of newly-added workshops, for instance A Walk in an Editorˇs Life, to enhance participantsˇ awareness of news and social issues; Professional Image Workshop, to prepare them for their future careers; and Leadership Workshop, to help them understand the traits of an effective leader. Moreover, the students were offered a precious chance to visit the local university, insurance companies, telecommunications organizations and charity groups in Korea during a five-day Research and Study Tour to Korea. Apart from experiencing Korean traditions and cultures, the students also had the chance to broaden their horizons and gain international perspectives.

This yearˇs list of guest speakers for Speakers Platform included a number of prominent personalities like the Hon. Mr. Bernard Chan, Member of Executive and Legislative Councils; Mr. Philip Chen, Chief Executive of Cathay Pacific Airways; the Hon. Mrs. Rita Fan, President of Legislative Council; Dr. Sarah Liao, Secretary for the Environment, Transport and Works; Prof. Poon Chung Kowng, President of The Hong Kong Polytechnic University; Mr. Tai Keen Man, Assistant Director of Broadcasting (Radio), Radio Television Hong Kong and Dr. Edmund Tse, Senior Vice Chairman of Life Insurance, American International Group, Inc.

The AIA Foundation Scholarship is another significant project of the AIA Foundation. Launched in 1995, the scholarship aims 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 21 scholarship recipients this year, the AIA Foundation has granted scholarships of over HK$3 million to almost 200 students in Hong Kong and Macau over the past 11 years.

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.