American Overseas Group Limited Announces Establishment of Trust for the Benefit of Holders of Series A Preference Shares

American Overseas Group Limited Announces Establishment of Trust for the
Benefit of Holders of Series A Preference Shares

HAMILTON, Bermuda, Feb. 19, 2014 (GLOBE NEWSWIRE) -- American Overseas Group
Limited (BSX:AORE) (Pink Sheets:AORE) ("AOG" or the "Company") today announced
that the Company established an irrevocable trust (the "Series A Trust") for
the benefit of the holders of its Preference Shares, Series A (the "Series A
Shares"). The Company deposited assets valued at $3 million in the Series A
Trust.Butterfield Trust (Bermuda) Limited has been appointed Trustee of the
Series A Trust and the Company has been appointed as its investment
manager.The Company believes that the funds deposited in the Series A Trust
will be sufficient to meet its obligation to the holders of the Series A
Shares at maturity on December 15, 2066.Establishment of the Series A Trust
does not alter the Company's obligations to the holders of the Series A
Shares.

Information About the Company

American Overseas Group Limited is a Bermuda-based holding company.Its
operating subsidiary, American Overseas Reinsurance Company Ltd., is a
property/casualty reinsurance company that currently writes short tail
non-catastrophe property/casualty reinsurance and historically wrote financial
guaranty reinsurance for U.S. and international public finance and structured
finance transactions.The Company's financial guaranty reinsurance business is
in run-off.More information can be found at www.aoreltd.com.

CONTACT: American Overseas Group Limited
         info@aoreltd.com
 
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