Arthur J. Gallagher & Co. Acquires N.Y.’s Yanoff

October 26, 2004

Arthur J. Gallagher & Co. (NYSE:AJG) announced the acquisition of I. Arthur Yanoff & Co., Ltd., headquartered in Valley Stream, New York. Terms of the transaction were not disclosed.

Incorporated in 1966, I. Arthur Yanoff & Co., Ltd. is a managing general agent and wholesale insurance broker providing excess and surplus lines products for independent insurance agents and brokers throughout the United States. They specialize in the underwriting and placement of commercial property, inland marine, commercial automobile, general liability, professional liability, umbrella/excess and personal lines coverages.

Thomas M. Mannion, Jr., Glenn R. Yanoff, Ronald M. Yanoff and their associates will continue to operate from their current locations, which include offices in Florida, Illinois, Georgia, New Jersey and New York City, under the direction of Joel Cavaness, president of Risk Placement Services, Inc., a subsidiary of Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in nine countries and does business in more than 100 countries around the world through a network of correspondent brokers and consultants.

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