Dividend Declaration

Marsh & McLennan Co Inc
20 September 2001


FOR IMMEDIATE RELEASE

Contact:       Barbara Perlmutter         Jim Fingeroth
               MMC                        Kekst and Company
               [phone]             [phone]



                      MMC DECLARES QUARTERLY DIVIDEND

NEW YORK, NEW YORK, September 20, 2001 - The board of directors of Marsh &
McLennan Companies, Inc. (MMC) today declared a quarterly dividend of $0.53 per
share on outstanding common stock, payable on November 15, 2001 to shareholders
of record on October 15, 2001.

MMC is a global professional services firm with annual revenues of $10
billion.  It is the parent company of Marsh, the world's leading risk and
insurance services firm; Putnam Investments, one of the largest investment
management companies in the United States; and Mercer Consulting Group, a major
global provider of consulting services.  Approximately 57,000 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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