Subsid's Directorate

Marsh & McLennan Co Inc
10 November 1999


KAREN HORN TO JOIN MMC'S MARSH
AS MANAGING DIRECTOR, PRIVATE CLIENT SERVICES
=============================================

NEW YORK, NEW YORK, November 10, 1999 - Marsh & McLennan Companies, Inc. (MMC)
announced today that Karen N. Horn has been named managing director, Private
Client Services, of its Marsh subsidiary, the world's leading risk and
insurance services firm, effective immediately.  Marsh Private Client Services
is a leader in providing for the personal insurance needs of high net worth
individuals and families.

Ms. Horn will report to Claude Mercier, president of Seabury & Smith, the
insurance program management operating company of Marsh.  She succeeds Guy
Migliaccio, who was recently appointed president of Marsh Advantage America.

Ms. Horn, age 56, served for nine years as chairman and chief executive
officer of Bank One in Cleveland, Ohio, a subsidiary of Banc One.  Prior to
that, she was president of the Federal Reserve Bank of Cleveland and a member
of the Federal Open Market Committee.  Most recently, from 1996 to 1999, she
was managing director and head of international private banking at Bankers
Trust.

A.J.C. Smith, chairman, and Jeffrey W. Greenberg, president, of MMC, said, 'We
are delighted to have Karen Horn join Marsh's senior management team.  Karen
comes to us with an outstanding background and a superb track record as a
private banking executive.  She has experience serving high net worth
individuals in the Americas, Europe, the Middle East and the Far East.  Her
results-oriented leadership and international expertise will be a great
benefit to us.'

Ms. Horn commented, 'I am excited to be joining the MMC family of professional
services firms and the exceptional management team at Marsh.  I'm looking
forward to helping identify and capitalize on Marsh's considerable
opportunities around the world as we restructure private client services in
cooperation with Marsh country heads.'

Ms. Horn is a director of Eli Lilly & Company and TRW, Inc.  She is a member
of the Board of Directors of the National Bureau of Economic Research and the
U.S.-Russia Investment Fund.  She is a member of the Council on Foreign
Relations.

Ms. Horn earned a B.A. in mathematics from Pomona College and holds a Ph.D. in
economics from Johns Hopkins University.

MMC is a global professional services firm with annual revenues exceeding $7
billion.  It is the parent company of Marsh, the world's leading risk and
insurance services firm; Putnam Investments, one of the largest investment
management companies in the United States; and Mercer Consulting Group, a
major global provider of consulting services.  More than 50,000 employees
provide analysis, advice and transactional capabilities to clients in over 100
countries.  Its stock (ticker symbol:  MMC) is listed on the New York,
Chicago, Pacific and London stock exchanges.  MMC's Web site address is
www.mmc.com.

For further information please contact:

Barbara Perlmutter                       Caroline Gentile
Marsh & McLennan Companies               Kekst and Company
[phone]                          [phone]