Award-Winning Redevelopment Community

AIG Global Real Estate’s Atlantic Station, a 138-acre mixed-use development project in midtown , reflects a close collaboration with the community and a strong commitment to the environment. The site preserves 11 acres of open space and is estimated to include: ■■ 6 million square feet of Class A office ■■ 5,000 residential units ■■ 2 million square feet of retail and entertainment ■■ 1,000 hotel rooms The Commons Development Focus on Environmental Remediation And Sustainable Building Practices

Remediation Energy

■■ Former site of Mill was ■■ Designed and built the largest, most contaminated after years of industrial use environmentally-friendly cooling system in southeastern U.S. ■■ AIG Global Real Estate remediated the site which involved the removal of 12,000 The District truckloads of soil and the recycling of Social Impact 150,000 cubic yards of materials

■■ Linked to Atlanta’s mass transit system by a free shuttle service Atlantic Station: ■■ Estimated to create over 40,000 new jobs Then and Now

Public And And Private Private Sector Sector Collaboration: Collaboration: U.S. 1930s Water U.S.Environmental Environmental Protection Protection Agency And Agency Project XL

■■ Installed wells to monitor underground ■■ Atlantic Station qualified under a national water and state-of-the-art sewer system, initiative that tests innovative ways of saving the city tax dollars with a more achieving better health and environmental efficient water treatment process and fewer protection, ultimately resulting in approval overflows at the water treatment plant for development of the 17th Street Bridge

1999 Atlantic Station Site Map

2009 171 17th Street Building

■■ AIG Global Real Estate developed 171 17th Street, a 510,000 square foot office building ■■ Awarded silver certification in the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) Core and Shell Development program: – First-ever LEED Silver-Core and Shell certified high-rise office building – First high-rise office building in Georgia to receive any LEED certification ■■ Doubled LEED Core and Shell requirements for both recycled content and local/regional materials

171 17th Street Building 201 17th Street Building

■■ AIG Global Real Estate developed 201 17th Street, a 350,000 square foot office building completed in 2007 ■■ Awarded gold certification in the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) Core and Shell Development program ■■ Building exterior features an aluminum-framed glass curtain wall with full-height tempered vision glass, creating open air views from inside ■■ LEED GOLD certification pursuits include: – Waterless urinals – Reduction of Heat Island Effect – Site classified as Brownfield Development – Construction waste management th 201 17 Street Building – Alternative transportation (shuttle service) – Regionally manufactured materials

Life Happens At Atlantic Station

Recognitions Live

U.S. Environmental Protection ■■ 700 high-rise condos and lofts in the retail district Agency’s 2004 Phoenix Award ■■ 1,100-plus condominiums and apartments encircling a two-acre ■■ Best National Brownfield lake with park area Redevelopment ■■ Single family, town homes, detached homes and lofts

U.S. Green Building Council Leadership In Energy And Environmental Design (LEED) Work ■■ Received prototype credits for ■■ 1 7 th Street is one of the best addresses for business in Atlanta the entire site to be applied to ■■ Environmentally-friendly and energy efficient commercial future buildings office space 171 17th Street Building ■■ Central location with interstate highway and alternative transportation access ■■ First ever high-rise office building to be awarded LEED Silver-Core ■■ 2 7 1 th Street building will deliver additional 535,000 square feet and Shell Certification of Class-A office space

Sierra Club Play ■■ America’s Best New Development ■■ Projects 2005 800,000 square foot retail district and the southeast U.S.’s first IKEA and H&M stores 201 17th Street Building ■■ World-class restaurants, shopping, and theaters ■■ Awarded LEED Gold-Core and ■■ Ample park space, including National Monument Foundation’s Shell Certification Millennium Gate for outdoor concerts

www.atlanticstation.com

Contact Information (Atlanta Office) AIG Asset Management (“AIGAM”) is a group of international companies that provide investment advice to clients around the world. AIGAM is a registered mark of American International Group, Inc. (“AIG”). Services and products are provided by one or more affiliates of American International Group, Inc. (AIG). The real estate activities of AIG and its subsidiaries are conducted AIG Global Real Estate th primarily by AIG Global Real Estate. AIG Global Real Estate is a group of international companies that actively invests in and manages real estate for clients and member companies of AIG 171 17 Street, Suite 1650 around the world. Interests in a real estate fund are speculative, may be leveraged and involve a significant degree of risk, and investors may lose all or a significant portion of their invested Atlanta, GA 30363 capital. There is generally no secondary market for fund interests nor is one expected to develop; additionally, there are restrictions on transferring fund interests. Fund returns will be reduced +1 404.876.2616 phone by management fees and other expenses. We are not soliciting or recommending any action based on this material. Unless otherwise noted, all information contained herein is sourced with +1 404.876.8628 fax AIG and/or AIGAM internal data. In the UK this material is intended for Intermediate Customers only and has been approved by AIG (Europe) Ltd, authorised and regulated by the Financial www.aigglobalrealestate.com Services Authority. 03/10 FS 142 AIG Global Real Estate

Associate Development Program

AIG Global Real Estate is seeking MBA or equivalent Master’s Level graduates, with a concentration in real estate and at least two years of real estate or related work experience, to join its 2009 Associate Program. These individuals will have the opportunity to join a successful and rapidly growing organization where they will gain exposure to a wide variety of real estate projects, transactions, and products. There will also be opportunities to work with investment and development professionals around the world. The positions will be based in New York, with a potential opportunity to work in San Francisco.

Le Centorial About AIG Global Real Estate Paris, France AIG Global Real Estate comprises a group of international companies within AIG Investments. Formed in 1987, AIG Global Real Estate invests in and actively manages real estate around the world for a globally diversified investor base, including unaffiliated investors and American International Group, Inc. (AIG), member companies.

AIG Global Real Estate targets above-market returns through a responsive and global investment strategy that features: ■■ an expertise and proven track record in major real estate markets1 ■■ extensive access to deal flow and the ability to execute quickly ■■ an established investment process, a culture of risk management, and a spirit of entrepreneurialism ■■ longstanding relationships with local real estate operators

Atlantic Station AIG Global Real Estate has approximately US $25.7 billion in equity2 under management and its Atlanta, Georgia property portfolio includes more than 53 million square feet of retail, residential, industrial, office and hospitality properties owned, managed, or under development in more than 50 countries. AIG Global Real Estate has created and closed 12 real estate funds, including 11 private, closed-end funds and investment programs and one publicly listed fund.

Strategic Locations Worldwide

EUROPE Barcelona Berlin Bucharest NORTH AMERICA Budapest ASIA Atlanta Dublin Bangkok Birmingham Essex Hong Kong Dallas Glasgow Jakarta International Finance Centre Hartford Istanbul Kuala Lumpur Houston London Manila Seoul, South Korea Los Angeles Luxembourg Mumbai Mexico City Madrid Seoul New York Milan Shanghai San Francisco Moscow Singapore San Juan Munich Taipei Toronto Prague Tokyo Rome Vienna SOUTH AMERICA Warsaw AFRICA/MIDDLE EAST AUSTRALIA Buenos Aires Zurich Cairo Melbourne Santiago Dubai São Paolo Johannesburg Nairobi

AIG Global Real Estate operates from more than 35 of AIG Investments offices worldwide, complemented by the extensive network of AIG, which Spruce Peak at Stowe Stowe, Vermont operates in 130 countries and jurisdictions

Denotes AIG Global Real Estate office location. 1 Past performance is not indicative of future results. 2 As of 30 June 2008. The Associate Development Program: 360 Degrees Of Support

Employer of Choice Mentoring Program

AIG Global Real Estate’s commitment to New associates will participate in a being the employer of choice is reflected in professional year-long mentoring program, its cohesive system of values, goals, and with mentors serving as role models to teach, behaviors. guide, and advise new associates. Each new The Sail @ Marina Bay associate will be matched with a mentor Singapore outside of his/her management line upon Training and Development joining the team.

Regional Focus AIG Global Real Estate strives to assist employees in the development of their careers Peer Partners From more than 35 offices worldwide, by offering a variety of opportunities to help AIG Global Real Estate acquires, increase knowledge and improve skills. In addition to a mentor, all new associates develops, and manages all major In addition, all new associates will attend will be paired with a current associate (or property types. our comprehensive week-long Associate senior associate/manager in certain locations) Orientation which provides the resources and to build a shared learning experience and Asia training that Associates need to be successful understanding of company culture. Major Asian markets in all asset within the organization. types; focus on those markets with high barriers to entry and strong economic indications The Associate Experience Europe Acquisition and development Past Associates Say: opportunities throughout Western, ■■ “The program allows me the opportunity to observe real estate from different perspectives; for Central and Eastern Europe example, a macro-level approach in product development and a micro-level approach in the investment group.” United States Concentrated in major U.S. cities, ■■ “As a member of the AIG/Lincoln European investment team, I’ve had the pleasure of working with primarily infill and coastal markets highly qualified, international development partners, and traveling to fantastic cities and towns in Spain, Italy, Poland, Hungary, and the Czech Republic.” Latin America ■■ “The associate program enables me to gain exposure to multiple asset classes, working on both Major markets, with an emphasis on acquisitions and asset management. AIG Global Real Estate’s commitment to increasing associates’ Mexico; focus on institutional quality experience through deal flow as well as extensive training and continuing education demonstrates assets, dollar-denominated cash its investment in our careers long-term.” flows and realistic exit strategies ■■ “AIG Global Real Estate offers an opportunity to learn about and be involved with a variety of India opportunistic development projects across various product types and geographies.” Opportunistic developments across ■■ “As an Associate within the Architecture & Construction Group of GRE, I conduct due diligence on all asset classes primarily in Tier I/II the design and construction phases for AIG’s entire domestic and international real estate portfolio. markets with best infrastructure and I focus on factors such as efficiency, marketability, quality, and most importantly, cost. My latest labor pools; select investments in Tier undertaking involves managing the day-to-day development process of an AIG facilities building in III markets with attractive labor costs Kampala, Uganda, which will incorporate many sustainable design components.”

Contact Information Corporate Recruiting How Do I Apply? AIG Global Real Estate Please contact your school’s career services center to submit your cover letter and resume. Greg Cassel 277 Park Avenue, 46th Floor New York, NY 10172

+1 646 857 8369 phone +1 646 857 8512 fax [email protected] www.aigglobalrealestate.com AIG Investments is a group of international companies that provide investment advice and market asset management products and services to clients around the world. AIG Investments is a registered mark of American International Group, Inc. (“AIG”). Services and products are provided by one or more affiliates of American International Group, Inc. (AIG). The real estate activities of AIG and its subsidiaries are conducted primarily by AIG Global Real Estate. AIG Global Real Estate is a group of international companies that actively invests in and manages real estate for clients and member companies of AIG around the world. Unless otherwise noted, all information contained herein is sourced with AIG and/or AIG Investments internal data. 9/08 FS 151 AIG Global Real Estate offers 20 years of real estate investment experience, with global real estate investment strategies in all property sectors.

AIG Asian Real Estate Partners II, L.P. (“Asia Fund II”)

Fund Overview

• Opportunistic Asian real estate fund seeking JPY50 billion of capital commitments and targeting 20% net IRR* • Second Pan Asian fund and sixth AIG real estate fund investing in Asia Pacific • Attractive warehoused investments pre-specifying 31 percent of the Fund’s targeted size

• Alignment with AIG Member Companies who will co-invest 10 percent of fund size 17 Bund Shanghai, China Fund Strategy Office renovation

• Leverage existing real estate platform in Asia to source, evaluate and manage opportunities • Diversity through targeted country mix with emphasis on strategic acquisitions generating appreciation over a relatively short period of time • Target potential gains from the spread between the cost of developing projects and the cost that would be expected to be incurred by purchasing a comparable, 110 Repulse Bay & Peak Homes fully-completed property Hong Kong, China For-sale residential ASIA FUND II - COUNTRY ALLOCATION RANGES (%) ASIA EXPERIENCE ASIA

JAPAN CHINA Chayamachi Crystal Osaka, Japan

1 TAIWAN Retail GREATER CHINA HONGMACAU KONG 30-60% HONG KONG VIETNAM JAPAN THAILAND 20-50% MALAYSIA SINGAPORE 0-20% SINGAPORE OTHER2 0-15%

AIG Tower 1 Includes Mainland China, Hong Kong, Macau and Taiwan 2 Includes Malaysia, Thailand, Vietnam, and other select Asian countries Hong Kong, China Diversification does not insure against market loss. Office development *Investment in the Fund requires a long term commitment, with no certainty of returns. However, this document references certain targeted returns that the Fund will seek to achieve. While the General Partner believes that the assumptions upon which such targeted returns are based are reasonable, such targeted returns are not necessarily a valid guide to future performance and the actual results of the Fund may differ from any of the performance targets referred to in this document. In developing targeted returns for the Fund, the General Partner has developed a model that includes assumptions regarding continuing distributions from Investments and financially advantageous resolutions of Investments. The targeted returns are based upon the General Partner’s assumptions about factors including, but not limited to, general, regional and local real estate markets, property tax rates, stability of governments, interest rates, availability of mortgage funds, leasing issues and transaction costs. In addition, the targeted returns are based upon the General Partner’s anticipated distribution and cash flow schedule, market data obtained directly through local sources, and third party consultant reports. The targeted returns generally assume holding periods of between 2 and 5 years and fees as disclosed in this document. The Fund’s targeted returns are merely a goal and there can be no assurance that the targeted returns can be achieved. If one or more of the underlying assumptions upon which the target is based turns out to be incorrect, results will differ. Such specific events include, without limitation, change or downward turn in the general, regional and local real estate markets, changes in real property tax rates, government instability, changes in interest rates, changes in the availability of mortgage funds which may render the sale or refinancing of the property difficult or impracticable, leasing of property issues and transaction costs relating to the sale of property that may arise in any realization of the Fund’s Investment. Actual exits from investments and cash flows to the Fund may also vary from the assumptions made in the Fund’s targeted returns. Interests in the Fund are speculative, may be leveraged and involve a significant degree of risk, and investors may lose all or a significant portion of their invested capital. There is no secondary market for Fund interests nor is one expected to develop; additionally, there are restrictions on transferring Fund interests. The Fund’s returns will be reduced by management fees and other expenses. AIG Global Real Estate offers 20 years of real estate investment experience, with global real estate investment strategies in all property sectors.

AIG Asian Real Estate Partners II, L.P. (“Asia Fund II”)

Local Expertise • 150 direct employees in local markets with a distinct advantage of sourcing deals not offered through typical brokerage channels • Offices in Hong Kong, Taipei, Shanghai, Tokyo, Singapore, Bangkok, and Kuala Lumpur • Investment specialists experienced in acquisition, construction and design, asset management, leasing, and dispositions • Global expertise in underwriting, financing, development, valuation, structuring and Shanghai Centre management of real estate investments Shanghai, China Mixed-use, Hotel AIG GLOBAL REAL ESTATE ASIA FUNDS TRACK RECORD1 Final Closing Commitments2 Gross IRR3 Net IRR3 AIG Asian Real Estate Partners, L.P. March 2003 US $100 million 33% 27% (“Asia I”) AIG Japan Real Estate Y.K. March 2004 JPY15 billion 65% 54% (“Japan Fund I”)4,5 AIG Japan Real Estate Value Added II Y.K. 4,5 July 2005 JPY30 billion 49% 37% (“Japan Fund II”) The Sail@Marina Bay AIG Japan Real Estate Value Added III Y.K. Singapore November 2006 JPY53 billion N/A N/A (“Japan Fund III”)6 For-sale residential

Benefits of Investing in Asia Fund II

Superior Access Warehoused Investments • Deals sourced through vast network • Approximately JPY15.6 billion of

of local employees, partners, and pre-specified investments to date EXPERIENCE ASIA relationships • Strong pipeline of additional deals • Entrepreneurial approach in executing exceeding JPY30 billion in equity Kohoku Shopping Center complex transactions ideal for Yokohama, Japan opportunistic strategy Retail, Construction

Thorough Investment Process Strength of AIG company • Emphasis on risk management • AIG capital commitment demonstrates supported by cohesive and consistent “Investor to Investor” philosophy investment review process • AIG reputation, global platform, and • Due diligence enhanced by in-house long-term market presence attracts top construction, design and project local partners management team

1 Past performance is not indicative of future results. 2 Commitments includes co-investments by AIG member companies. 3 Gross and Net IRRs are calculated from inception through September 30, 2007. Nan Shan Financial Center 4 Certain funds may realize early dispositions during the initial years, prior to calling all capital from investors. In such cases, distributions are made in early periods and therefore IRRs reported in those periods may be significantly higher than a fund will achieve over the full life of the Taipei, Taiwan fund. Consequently, future performance cannot be predicted and there can be no assurance that distributions will exceed expenses for any particular fund. Office 5 The high IRRs figures for Japan Fund I and II can be attributed to cash distribution from incomes generated from the fund properties, cash distribution from the disposed asset, as well as the mark up of the portfolio’s NAV. The recovery of the Japan economy has enabled the assets in the funds to perform well and increase in value. 6 Japan Fund III had its final closing in November 2006 with aggregate capital commitments of JPY53 billion. The materials contained herein do not constitute an offering of securities. Any such offering of securities will only be made pursuant to the Private Placement Memorandum (“PPM”) for the Fund, a copy of which can be obtained from the Fund’s placement agent(s). All of the information contained herein is qualified by detailed information in the PPM, as the same may be modified or supplemented from time to time. The Fund is not offered or sold in any jurisdiction in which such offer, solicitation or sale is not authorized or to any person to whom it is unlawful to make such an offer, solicitation or sale. The shares in the Fund are not offered to the public and no invitation to subscribe for shares in the Fund is being made to the public. The Fund has not been registered with any regulatory authority, but is duly organized with an authority in the jurisdiction in which it is domiciled. An investment in the Fund will involve significant risks that are addressed in the PPM. Investors should have the financial ability and willingness to accept the risk characteristics and illiquidity of the Fund’s investments. AIG Investments is a group of international companies that provide investment advice and market asset management products and services to clients around the world. AIG Investments is a registered mark of American International Group, Inc. Services and products are provided by one or more affiliates of American International Group, Inc. (AIG). AIG Equity Sales Corp. is the Fund’s placement agent in the U.S. only and does not offer this product in jurisdictions outside of the U.S. AIG Equity Sales Corp., member FINRA, 70 Pine St., New York, NY 10270 / telephone: 800-335-3795. AIG Equity Sales Corp. and member companies of AIG Investments are subsidiaries of AIG and are not affiliated with other entities mentioned. In the UK this material is intended for Intermediate Customers only and has been approved by AIG Investments Europe Limited, authorised and regulated by the Financial Services Authority. Web site: www.aiginvestments.com. May 2008.