Draft Contact:
News Release Investors: Kerry K. Calaiaro
+1 212 837-0880
Email: calaiaro_ke@willis.com
Media: Nicholas Jones
+1 44 20 7488-8190
Email: jonesnr@willis.com
Dan Prince
+1 212 837-0806
Email: prince_da@willis.com
WILLIS GROUP HOLDINGS LIMITED PRICES
SECONDARY OFFERING OF COMMON STOCK
New York, NY, April 30, 2003 - Willis Group Holdings Limited (NYSE: WSH), the
global insurance broker, today announced that the secondary public offering by
certain of its shareholders of 17,400,000 shares of common stock has been
increased to 21,526,100 shares and priced at $31.00 per share. The selling
shareholders have also granted the underwriters an option to purchase up to
2,152,610 additional shares to cover over-allotments, if any.
As requested by Willis, Profit Sharing (Overseas), Limited Partnership,
an affiliate of Kohlberg Kravis Roberts & Co. L.P. and Fisher Capital Corp.
L.L.C.sold shares in the offering. Willis did not issue any shares of common
stock in the offering.
Banc of America Securities LLC, Credit Suisse First Boston and J.P.
Morgan Securities Inc. served as joint book-running managers of the offering.
A final prospectus relating to the common stock offering may be obtained by
contacting:
Banc of America Securities LLC Credit Suisse First Boston
Prospectus Department Prospectus Department
100 West 33rd Street One Madison Avenue
New York, NY 10001 New York, NY 10010
646-733-4166 212-325-2580
J.P. Morgan Securities Inc.
Prospectus Department
277 Park Avenue
New York, NY 10172
212-622-5219
Upon completion of the offering, Profit Sharing (Overseas) will own
approximately 24.7% of the outstanding shares of Willis, assuming no exercise
of the over-allotment option.
Willis Group Holdings is a leading global insurance broker, developing and
delivering professional insurance, reinsurance, risk management, financial and
human resource consulting and actuarial services to corporations, public
entities and institutions around the world. With over 300 offices in more than
74 countries, its global team of 13,000 employees serves over 50,000 clients
in 160 countries.
-more-
Willis Group Holdings
7 Hanover Square
New York, NY 10004
This announcement shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any state
in which such offer, solicitation or sale
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would be unlawful prior to the registration or qualification under the
securities laws of any such state. The offering of these securities is made
only by means of a prospectus.
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