American General Finance, Inc. to Acquire a Portion of Equity One’s Consumer and Mortgage Loan Portfolio from Popular, Inc.

Business Editors/Financial Editors/Insurance Writers NEW YORK–(BUSINESS WIRE)–January 23, 2008–American General Finance, Inc. (American General Finance), a wholly owned subsidiary of American International Group, Inc. (AIG), today announced it has entered into an agreement with Popular, Inc. to acquire a substantial portion of its Equity One consumer branch loan portfolio for $1.49 billion.

Equity One is a diversified consumer lending institution offering a complete line of real estate secured, home improvement and unsecured loan products. The transaction, which is subject to regulatory approvals and closing conditions, is expected to close in early 2008. “American General Finance’ s business continues to perform quite well compared to many consumer lenders.

That fact, combined with AIG’ s continued support, allows the company to take advantage of loan growth opportunities that fit our strategic objectives and our underwriting and return requirements,” said Frederick W. “Rick” Geissinger, Chairman and CEO, American General Finance.

“Equity One’ s portfolio complements our existing business and we are excited by the opportunity to increase the number of customers American General Finance lends to around the country.” American General Finance, Inc., through its subsidiaries is engaged in the consumer finance and credit insurance business. The company, headquartered in Evansville, Indiana, has assets of $27 billion and operates over 1,550 offices in 45 states, the United Kingdom, Puerto Rico and the U.S. Virgin Islands.