Dear Investor:

AIG Investments is pleased to announce the reopening of the AIG Europe Small Companies Fund* on Monday 1 December, 2008.

The AIG Europe Small Companies Fund (the ‘Fund’) was closed to new subscriptions in January this year, following significant investor inflows. This allowed for the protection of the interests of existing investors, and the preservation of the integrity of the investment process.

The recent correction in equity markets has made additional capacity available and has created an opportune time to reopen the Fund for additional investments.

The AIG Europe Small Companies Fund is actively managed with a focus on bottom-up stock selection and its performance is measured against the HSBC Smaller Europe, including UK, Index.

The Fund continues to be managed using the same investment process by the same team led by Chantal Brennan, Managing Director and Head of European Small and Mid Cap Equities. The Fund has a Standard & Poor’s Fund Management Rating of AA and has achieved a successful long-term track record, ranking 1st Quartile over 10 years to 30 September 2008 versus its peer group as measured by Morningstar Direct**.

Further information about this Fund, including the Prospectus and most recent Fund Fact Sheet is available at AIG Europe Small Companies Fund or from your local relationship manager.

*Sub-fund of AIG Global Funds, an Irish domiciled UCITS III umbrella fund, authorized and regulated by the Financial Regulator in Ireland.  Further information on this sub-fund may be obtained via the relevant weblinks to the left of this page or from the Manager, AIG Investments Fund Management Ltd. of AIG Centre, IFSC, North Wall Quay, Dublin 1.

** Peer group is all offshore funds in the Morningstar GIFS Equity Smaller Companies Europe peer group

Click here to go directly to the AIG Europe Small Companies Fund