Updated Reports on Major Natural and Man-made Catastrophes Worldwide Now Available on Guy Carpenter Website

Instrat® unit’s CAT-i and RISK-i reports provide timely information on events likely to incur significant insurance and reinsurance loss

NEW YORK, September 15, 2003 — Guy Carpenter & Company, Inc., the leading global risk and reinsurance specialist, announced today the availability of CAT-i and RISK-i reports on the company’s web site (www.guycarp.com), which provide periodic updates on major natural catastrophes and technological or man-made events worldwide that are likely to incur a significant loss to the insurance and reinsurance industry. These proprietary reports have been produced and distributed since 1999 (CAT-i) and 2002 (RISK-i) by Instrat�, the company’s risk and financial analysis division, and can now be accessed through the website’s new “GC CAT Reports” section.

“Providing relevant information about events happening around the world at any time is part of our commitment to helping clients understand and quantify the uncertainties that are inherent in their businesses,” said Ryan Ogaard, lnstrat’s managing director. “Providing this information through our website gives clients easy and direct access, facilitating the reinsurance decision-making process.

Instrat’s CAT-i reports track major floods, tropical cyclones, earthquakes and other natural events of importance to the industry. The RISK-i reports cover technological or man-made risks to property, transport and life, including explosions, fires, crashes, engineering disasters and terrorist attacks. All summaries and reports are based on publicly available information.

Guy Carpenter & Company, Inc. is the world’s leading risk and reinsurance specialist and a part of the Marsh & McLennan Companies. Guy Carpenter creates and executes reinsurance and risk management solutions to clients worldwide through more than 2,300 professionals across the globe. The firm’s full breadth of services includes eleven centers of excellence in Special Property, Professional Liability, Life & Annuity, Accident & Health, Environmental, Workers Compensation, Surety & Fidelity, Agriculture, Finite Reinsurance, Investment Banking & Capital Markets*, and Program Managers Solutions. In addition, Guy Carpenter’s Instrat� unit utilizes industry-leading quantitative skills and modeling tools that optimize the reinsurance decision-making process and help make the firm’s clients more successful. Guy Carpenter’s website address is www.guycarp.com.

* Securities are offered in the United States through MMC Securities Corp., Member NASDISIPC. MMC Securities Corp. is an affiliate of Guy Carpenter & Company, Inc.