Marsh Inc. To Acquire Saldana & Associates of Puerto Rico

October 8, 2002

Marsh Inc. announced that it has signed a letter of intent to acquire Saldana & Associates, the leading insurance broker in Puerto Rico and the Caribbean, “subject to the customary conditions.”

The bulletin indicated that Saldana, established in 1972, is currently “a Marsh correspondent.” It’s staffed by 170 professionals, with offices in San Juan and Ponce, and “serves a diversified book of local and multinational clients in the region.”

“This business combination with Saldana will provide important service benefits for Marsh’s clients in Puerto Rico and the Caribbean,” stated Robert J. Solomon, Chairman and CEO of Marsh’s International Specialty Operations. “It also will give us a strong base for accelerating the growth of our business in the region.”

He added that Saldana’s senior management team of Ralph Christiansen, President; Eduardo Emanuelli, Executive VP, Ruben Jordan, Treasurer; and Board Members Joe Murray, Francisco Tirado, Alfonso Lozada, Jaime Calaf and Manuel Mendez; as well as the firm’s other partners and executives, will continue in their current positions.

Christiansen stated that “By joining with Marsh, we will combine our strong regional presence with access to the most extensive global resources available in the risk management and insurance broking field. “I know our clients will welcome this linking of capabilities.”

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