2008-05-10 00:12:08 -

- Concurrent with the related rating announcement on American International Group (AIG), Inc.'s and its main subsidiaries on May 8, 2008, Fitch placed several collateralized debt obligation (CDO) classes on Rating Watch Negative.

G-Star 2002-1, Ltd./Corp.

--$99,165,993 Class A1 MM notes 'F1+'; placed on Rating Watch Negative.

G-Star 2002-2, Ltd./Corp.

--$84,873,729 Class A-1MM A notes 'F1+';

placed on Rating Watch Negative;

--$70,728,108 Class A-1MM B notes 'F1+'; placed on Rating Watch Negative.

Lakeside CDO I, Ltd./Inc.

--$362,998,017 Class A-1 notes 'F1+'; placed on Rating Watch Negative.

Putnam Structured Product CDO 2001-1, Ltd. 2001-1; placed on Rating Watch Negative

--$44,853,227 Class A-1MM-a notes 'F1+'; placed on Rating Watch Negative;

--$40,047,524 Class A-1MM-b notes 'F1+'; placed on Rating Watch Negative.

TIAA Real Estate CDO 2003-1

--$175,951,621 Class A-1MM notes 'F1+'; placed on Rating Watch Negative.

The short-term rating on these classes is supported by a put agreement provided by AIG Financial Products (AIG FP) Corp. AIG FP's obligations under these agreements are guaranteed by AIG. AIG's Long-Term Issuer Default Rating (IDR) was downgraded to 'AA-' from 'AA' on May 8, 2008 and remains on RWN. AIG's Short-Term IDR was placed on RWN on May 8, 2008.

For more information see the Fitch Ratings web site www.fitchratings.com.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

Fitch Ratings, New York
Kevin Kendra, +1-212-908-0760
Brian Vorderbrueggen, +1-212-908-9102
Sandro Scenga, +1-212-908-0278 (Media Relations)