Marsh & McLennan Announces Search for New CEO

Marsh & McLennan Companies, Inc. (NYSE: MMC) announced today that
its Board of Directors has initiated a search for a Chief Executive
Officer to replace Michael G. Cherkasky, who has served as President
and Chief Executive Officer of the company since October 2004.

The Board of Directors has determined that a change in leadership
will best enable MMC to move forward and enhance shareholder value.
Mr. Cherkasky will continue to serve as MMC´s CEO while the search is
conducted.

Stephen R. Hardis, Non-Executive Chairman of the Board, said:
"MMC´s financial performance in 2007 has fallen far short of our
expectations. The Board has taken this performance into account, and
listened to concerns raised by some of the company´s largest
shareholders in recent quarters, in making this change. The Board will
continue to actively oversee MMC´s portfolio of businesses and
evaluate strategies to enhance shareholder value, including optimizing
the company´s capital structure, reviewing its mix of businesses and
improving operating performance, particularly at Marsh. To that end,
we hired Dan Glaser as Chairman and Chief Executive Officer of Marsh
to significantly improve Marsh´s profitability. The Board believes
that the full recovery of Marsh is essential to maximizing shareholder
value in the most prudent and sustainable manner."

Mr. Hardis continued: "MMC is a venerable institution that might
not be here today were it not for Mike Cherkasky. His leadership and
crisis management skills in the wake of the New York Attorney
General´s action in 2004 enabled MMC to weather a perfect storm and
positioned the company for future growth. We all owe Mike an enormous
debt of gratitude for his invaluable contribution."

"It has been an honor and a privilege for me to lead MMC through
difficult times and position it for a successful future," said
Mr. Cherkasky. "This company has as fine a collection of people as I
have ever worked with and I am proud of what we have achieved in many
areas. I would like to thank all of my colleagues for a tremendous
team effort over the past three years and look forward to seeing MMC
succeed in the future."

MMC is a global professional services firm providing advice and
solutions in the areas of risk, strategy and human capital. It is the
parent company of a number of the world´s leading risk experts and
specialty consultants, including Marsh, the insurance broker and risk
advisor; Guy Carpenter, the risk and reinsurance specialist; Kroll,
the risk consulting firm; Mercer, the provider of HR and related
financial advice and services; and Oliver Wyman, the management
consultancy. With more than 55,000 employees worldwide and annual
revenue of $11 billion, MMC provides analysis, advice and
transactional capabilities to clients in more than 100 countries. Its
stock (ticker symbol: MMC) is listed on the New York, Chicago, and
London stock exchanges. MMC´s website address is www.mmc.com.

This press release contains "forward-looking statements," as
defined in the Private Securities Litigation Reform Act of 1995. These
statements, which express management´s current views concerning future
events or results, use words like "anticipate," "assume," "believe,"
"continue," "estimate," "expect," "intend," "plan," "project" and
similar terms, and future or conditional tense verbs like "could,"
"may," "might," "should," "will" and "would." For example, we may use
forward-looking statements when addressing topics such as: future
actions by regulators; the outcome of contingencies; changes in our
business strategies and methods of generating revenue; the development
and performance of our services and products; market and industry
conditions, including competitive and pricing trends; changes in the
composition or level of MMC´s revenues; our cost structure and the
outcome of restructuring and other cost-saving initiatives; share
repurchase programs; the expected impact of acquisitions and
dispositions; and MMC´s cash flow and liquidity.

Forward-looking statements are subject to inherent risks and
uncertainties. MMC and its subsidiaries operate in a dynamic business
environment in which new risks may emerge frequently. Accordingly, MMC
cautions readers not to place undue reliance on its forward-looking
statements, which speak only as of the dates on which they are made.
MMC undertakes no obligation to update or revise any forward-looking
statement to reflect events or circumstances arising after the date on
which it is made. Further information concerning MMC and its
businesses, including information about factors that could materially
affect our results of operations and financial condition, is contained
in MMC´s filings with the Securities and Exchange Commission,
including the "Risk Factors" section of MMC´s annual report on Form
10-K for the year ended December 31, 2006.