Ocean Finance & Mortgages Limited

On 16 November 2006, American General Finance Corporation ("AGF"), a wholly owned subsidiary of American International Group, Inc, announced that it had entered into an agreement to acquire Ocean Finance and Mortgages Limited ("Ocean"), a leading finance broker for home owner loans in the U.K., from its founder and CEO, Paul Newey.

Ocean, headquartered in Staffordshire was established in 1991 and employs approximately 300 people. As a leading finance broker in the U.K., Ocean offers home owner loans, mortgages and remortgages. Ocean maintains a residential mortgage portfolio of approximately £60mlion.

Ocean will become the first AGF company located outside of North America.

Canaccord Genuity acted as sole financial advisor to Ocean Finance & Mortgages Limited.