BRIEF-AIG to sell up to 90 percent of ILFC

Dec 9 (Reuters) - American International Group Inc : * Announces agreement to sell up to 90 percent of international lease finance

corporation (ilfc) * Says investor group of China aviation industrial fund and p3 investments ltd.

have agreed to acquire 80.1% of ilfc for $4.23 billion * Says investor group has option to acquire an additional 9.9% stake of ilfc * Says investor group is expected to be expanded to include new China life

insurance co. ltd. and an investment arm of icbc international * Says expects to record a non-operating loss of approximately $4.4 billion

related to deal * Says after deal ilfc will retain operational Independence and continue to be

headquartered in Los Angeles * Says will retain at least a 10% ownership stake in ilfc