AIG board approves revised bailout - source

NEW YORK, March 1 (Reuters) - The board of American International Group Inc (AIG.N) approved a revised bailout package for the troubled insurer that includes an additional commitment of $30 billion from the U.S. government, a source familiar with the matter said on Sunday.

The board met earlier to vote on the deal, which also includes easier terms on a government credit line and preferred stock investment as well as a plan to reduce AIG's debt to the government, the source said. (Reporting by Paritosh Bansal, editing by Maureen Bavdek)