Arthur J. Gallagher & Co. Purchases CAL E&S Companies

October 17, 2003

Arthur J. Gallagher & Co. announced the acquisitions of CAL E&S Brokers, Inc. of Bay Shore, N.Y. and CAL E&S Brokers of New Jersey, Inc. of Morristown, N.J.

Both companies were established in 2000. The CAL E&S companies are full-service excess and surplus lines brokers that specialize in both Property & Casualty E&S placements on behalf of independent agents and brokers throughout the United States.

Joseph Caligiuri, John Hall and their staff will continue to operate in their New York, New Jersey and Florida locations under the direction of Joel Cavaness, President of Risk Placement Services, Inc., a subsidiary of Arthur J. Gallagher & Co.

J. Patrick Gallagher, president and CEO noted, "The addition of these outstanding firms helps to expand product placement capabilities through our strong national wholesale presence. The CAL E&S companies will be significant contributors to our speciality marketing operations."