AIG Acquires Additional Shares of 20th Century; Topping 50%

American International Group, Inc. says it has purchased additional shares of common stock of 20th Century Industries (20th Century). AIG now owns approximately 15.4% of the outstanding common stock of 20th Century. Upon conversion of the shares of 20th Century convertible preferred stock and exercise of the warrants to purchase common stock that AIG already owns, AIG will own in excess of 50% of the outstanding shares of common stock of 20th Century.