New York (Aug. 13, 2002) -- Insurance and financial services concern American International Group Inc. has joined a growing list of Fortune 500 companies which vows to begin expensing stock options.

The company said it would begin reporting the value of its employee stock options as an expense beginning next year. However, the company said it would have a scant impact on earnings, pointing out that if AIG had expensed options in 2001, it would have reduced its earnings per share by just five cents.

In recent weeks, other companies such as General Electric, Bank One Corp., Coca-Cola Co. and Procter & Gamble Co. have said they would begin expensing options.

--Electronic Accountant Newswire staff

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