Dividend Declaration

Marsh & McLennan Co Inc
15 May 2003


Please be advised that the Board of Directors of Marsh & McLennan Companies,
Inc. (the 'Company') today declared a quarterly dividend on the Company's common
stock of thirty-one cents ($.31) per share, payable August 15, 2003 to
stockholders of record on July 9, 2003.

In addition, the Company's stockholders today approved the adoption of an
amendment to the Company's Restated Certificate of Incorporation increasing the
number of authorized shares of common stock from 800,000,000 to 1,600,000,000
shares.

Effective today, the stockholders also elected five directors, Peter Coster,
Charles A. Davis, Gwendolyn S. King, Lawrence J. Lasser and David A, Olsen, as
Class III directors. Each of the Class III directors will serve for a three-year
term. The following persons were elected to serve as officers of the Company:


Office                                          Name
      
Chairman of the Board & Chief Executive         
Officer                                         Jeffrey W. Greenberg
Vice Chairman                                   Mathis Cabiallavetta
Vice Chairman                                   Charles A. Davis
Senior Vice President & Chief
Financial Officer                               Sandra S. Wijnberg
Senior Vice President & General Counsel         William L. Rosoff
Senior Vice President - Executive
Resources & Development                         Francis N. Bonsignore
Senior Vice President                           Barbara S. Perlmutter
Secretary                                       Gregory F. Van Gundy
Vice President                                  Ernest M. Asaff
Vice President & Treasurer                      Matthew B. Bartley
Vice President                                  J. Michael Bischoff
Vice President                                  Mark J. Dallara
Vice President                                  Leonard F. DiNapoli, Jr.
Vice President                                  John R. Dutt
Vice President                                  Cindy H. Finkelman
Vice President                                  Barbara Hoffman Frank
Vice President                                  David Frediani
Vice President                                  Barry W. Furst
Vice President                                  Raymond Haas
Vice President                                  Ziporah Janowski
Vice President                                  Elizabeth K. Kellner
Vice President                                  F. Mark Lastner 
Vice President                                  Rocco Maggiotto
Vice President                                  John P. McLaughlin
Vice President & Controller                     Robert J. Rapport
Vice President                                  Thomas M. Sansone
Vice President                                  Robert S. Van Pelt
Vice President                                  Michael A. Waskom
Assistant Vice President                        William A. Blanchard
Assistant Vice President                        Mary Dolinick
Assistant Vice President                        Patricia E. Grissom
Assistant Vice President                        Michael A. Hass
Assistant Controller                            James M. Mench
Assistant Controller                            Matthew Reed
Assistant Secretary                             William J. White
Assistant Treasurer                             Alan W. Bieler
Assistant Treasurer                             Joseph F. Meyer
Assistant Treasurer                             L. Paul Rose


Finally, the stockholders ratified the appointment of Deloitte & Touche LLP as 
independent public accountants for 2003.


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