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MMC DECLARES INCREASED QUARTERLY DIVIDEND

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NEW YORK, NEW YORK, January 17, 2007 — Marsh & McLennan Companies, Inc. (MMC) announced today that its Board of Directors has voted to raise the company's quarterly cash dividend by nearly 12 percent to $.19 from $.17 per share on outstanding common stock. The dividend is payable on February 15, 2007 to shareholders of record on January 24, 2007.

MMC is a global professional services firm with annual revenues of approximately $12 billion. It is the parent company of Marsh, the world's leading risk and insurance services firm; Guy Carpenter, the world's leading risk and reinsurance specialist; Kroll, the world's leading risk consulting company; Mercer, a major global provider of human resource and specialty consulting services; and Putnam Investments, one of the largest investment management companies in the United States. Approximately 55,000 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.