Starr International Acquires Stake in Discovery Russian Realty Paveletskaya Project

Starr International Acquires Stake in Discovery Russian Realty Paveletskaya Project

July 03, 2007

    NEW YORK, July 3 /Xinhua-PRNewswire/ -- 

    Starr International Company, Inc. ("SICO"),
through its wholly-owned subsidiary Starr Investments
Cayman I, Inc., acquired a substantial shareholding in
Discovery Russian Realty Paveletskaya Project Limited, a
real estate development company which will develop a mixed
use complex in the Paveletskaya business area in Moscow. 
The development contemplates construction of four 11-story
class A office buildings and an hotel of 170 rooms.

    Starr International Company, Inc ("SICO") is
a non-regulated private investment company incorporated in
Panama in 1943 and is chaired by Mr. Maurice R. Greenberg.
SICO serves as a private financial services holding company
with approximately USD$20 billion in assets world wide.
These investments are made through direct investments,
publicly traded securities and private equity funds with a
focus on financial services, real estate, consumer products
and services, retail and energy businesses.  SICO remains as
the single largest shareholder of American International
Group, Inc.


    For more information, please contact:

     Sarah Lubman
     Brunswick Group
     Tel: [phone]