Exhibit 99.1


News Release




                          MMC PROVIDES MSA INFORMATION

NEW YORK, NEW YORK, October 18, 2004 - Marsh & McLennan Companies, Inc. (MMC)
said last Friday that Marsh Inc., its risk and insurance services subsidiary,
suspended the use of market services agreements (MSAs).

The Company announced today that in 2003, revenue from MSAs recorded by Marsh
amounted to $845 million, representing 12 percent of MMC's risk and insurance
services revenue of $6.9 billion and 7 percent of MMC's total consolidated
revenue of $11.6 billion.

For the six months ended June 30, 2004, MSA revenue was approximately $420
million, which was 11 percent of risk and insurance services revenue and 7
percent of MMC's total consolidated revenue.

MSA revenue has been part of overall compensation for Marsh's services. The
suspension of MSAs will negatively impact near-term operating income. The
expenses directly associated with Marsh's global distribution activities
amounted to approximately $340 million for 2003. This amount excludes embedded
local office expenses that support placement activities. Therefore, it is not
possible to calculate a specific operating income margin for MSA revenue.

In 2003, total expenses in risk and insurance services amounted to $5.1 billion
and operating income was $1.8 billion. MMC consolidated operating income for
2003 was $2.5 billion and net income was $1.5 billion.

For the six months ended June 30, 2004, total expenses in risk and insurance
services were $2.7 billion, and operating income was $1.1 billion. MMC
consolidated operating





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income for the six months ended June 30, 2004 was $1.4 billion, and net income
was $835 million.

MMC is a global professional services firm with annual revenues exceeding $11
billion. It is the parent company of Marsh Inc., the world's leading risk and
insurance services firm; Putnam Investments, one of the largest investment
management companies in the United States; and Mercer Inc., a major global
provider of consulting services. More than 63,000 employees provide analysis,
advice, and transactional capabilities to clients in over 100 countries. Its
stock (ticker symbol: MMC) is listed on the New York, Chicago, Pacific, and
London stock exchanges. MMC's website address is www.mmc.com.

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