Guy Carpenter Cited Reinsurance Broker of the Year in Industry Poll

Firm Takes First Place by a Wide Margin

New York, September 13, 2004

Guy Carpenter & Company, Inc., the world’s leading risk and reinsurance specialist and a part of the Marsh & McLennan Companies, Inc. (NYSE: MMC) today announced that the firm was voted Reinsurance Broker of the Year in a reader poll conducted by Reactions magazine.

Guy Carpenter received 32 percent of the votes cast and garnered 60 percent more votes than the second-placed broker in the annual survey. The awards were announced yesterday at the annual Rendez-Vous de Septembre in Monte Carlo, the global reinsurance industry conference. This is the fourth time in the past five years that Guy Carpenter has been so honored.

�Guy Carpenter has come a long way in its 81-year history�But the broker�s age does not mean it cannot move with the times. Traditional broking relationships need to be combined with cutting-edge technology. Guy Carpenter invests a lot of time and money developing new initiatives,� the magazine said in its awards announcement.

Guy Carpenter also placed second in a new awards category, Most Innovative Reinsurance Broker of the Year, in a close race. �Guy Carpenter was not far away from winning both reinsurance broking categories,� the magazine said, noting that Guy Carpenter finished just 4 percentage points behind the winner and received twice as many votes as the broker placing third.

Guy Carpenter & Company, Inc. is the world’s leading risk and reinsurance specialist and a part of the Marsh & McLennan Companies, Inc. Guy Carpenter creates and executes reinsurance and risk management solutions for clients worldwide through more than 2,400 professionals across the globe. The firm’s full breadth of services includes 16 centers of excellence in Accident & Health, Agriculture, Alternative Risk Transfer, Environmental, General Casualty, Investment Banking*, Life & Annuity, Marine & Energy, Professional Liability, Program Manager Solutions, Property, Retrocessional, – 2 – Guy Carpenter Cited Reinsurance Broker of the Year in Industry Poll September 13, 2004
Structured Risk, Surety, Terror Risk, and Workers Compensation. 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 NASD/SIPC. MMC Securities Corp. is an affiliate of Guy Carpenter & Company, Inc.