Guy Carpenter Publishes Updated Report on Silica

New York, New York � February 17, 2005 – Guy Carpenter & Company, Inc., the world�s leading risk and reinsurance specialist and a part of the Marsh & McLennan Companies, Inc. (NYSE: MMC) has released an update to its 2004 report, �Silica � A Litigation Sandstorm.� According to the report, two recent developments in silica litigation, although limited in scope, allow some cautious optimism that silica may not be following the asbestos litigation path.

�A review of health data, which helps determine the size of the silica issue, suggests that silica-related deaths are declining while a similar review of health data suggests that asbestos deaths remain on the rise,� said Sean Mooney, Guy Carpenter�s Chief Economist. While the 2004 report discussed the nature of silica claims exposure and the options for analyzing and responding to this risk, the update seeks to discern trends in the U.S. legal system, comments on the ultimate potential cost of silica litigation and provides a review of the silica liability issue in Europe. The updated report, �Update #1: Silica � A Litigation Sandstorm,� is available for download on the Guy Carpenter website, .

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, 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