MMC NAMES PETER J. BESHAR GENERAL COUNSEL

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NEW YORK, NEW YORK, November 18, 2004 - Marsh & McLennan Companies, Inc. (MMC) announced today that Peter J. Beshar, a litigation partner at the firm of Gibson, Dunn & Crutcher LLP, has been named senior vice president, general counsel, and corporate secretary of the company.

Mr. Beshar's appointment is effective November 22, 2004. He will report to Michael G. Cherkasky, president and chief executive officer of MMC.

A graduate of Yale University and Harvard Law School, Mr. Beshar specializes in securities litigation and served as the co-chair of Gibson, Dunn's Securities Litigation Group.

Mr. Cherkasky said: "We are delighted that Peter will be joining our senior management team. He has distinguished himself in both the private and public sectors. We believe that his background in securities litigation and regulatory investigations will serve the company well."

MMC is a global professional services firm with annual revenues exceeding $11 billion. It is the parent company of Marsh Inc., the world's leading risk and insurance services firm; Putnam Investments, one of the largest investment management companies in the United States; and Mercer Inc., a major global provider of consulting services. More than 60,000 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 website address is www.mmc.com.

This press release may contain forward-looking statements, which by their very nature involve risks and uncertainties. Please refer to Marsh & McLennan Companies, Inc.'s most recent Current Reports on Form 8-K for "Information Concerning Forward-Looking Statements" and a description of factors that may cause actual results to differ from those contemplated by such statements.