CEO Notes Willis’ Progress at Shareholders Meeting

May 10, 2004

Willis Group Holdings Limited Chairman and CEO Joe Plumeri outlined the corporation’s progress through 2003 and reflected on first quarter 2004 results at the company’s Annual Meeting of Shareholders, held on May 7, 2004 in New York City.

“2003 was another great year for Willis – for our shareholders, our clients and our Associates around the world,” Plumeri stated. “The positive momentum we established in 2001 and 2002 gathered pace last year, with record operating results, a strengthened balance sheet, a rising share price and the introduction of a range of initiatives and programs to support our continued growth and development. Working together under one flag, we have produced great results as we begin to realize some of the Group’s tremendous potential. We will continue our mission to be the world’s best broker, armed with a unified vision and purpose to build a great sales and service culture for success in all market environments.”

Concurrent with the annual meeting, the Board of Directors declared a quarterly cash dividend of $0.1875 per common share on the Company’s common stock, payable on July 13, 2004 to shareholders of record on June 30, 2004.

Shareholders also voted to re-appoint Deloitte & Touche as auditors until the next annual general meeting, authorized the Audit Committee on behalf the Board of Directors to fix the auditors remuneration, and elected all Directors to serve until the next annual general meeting.

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