Dividend Notification Declaration

Marsh & McLennan Co Inc
18 May 2000

MARSH & McLENNAN COMPANIES BOARD VOTES TO
INCREASE QUARTERLY DIVIDEND
=========================================

NEW YORK, NEW YORK, May 18, 2000 - Marsh & McLennan Companies, Inc. (MMC)
announced today that its board of directors has voted to raise the company's
quarterly cash dividend by 11 percent from $.45 to $.50 per share on
outstanding common stock.  The dividend will be paid on August 15, 2000, to
shareholders of record on July 10, 2000.  This action extends MMC's record of
increasing total annual dividends paid to shareholders every year since the
company went public in 1962.

J. W. Greenberg, president and chief executive officer of MMC, said, 'The
board's action today reflects our strong earnings growth, our continuing
excellent performance and the growing global demand for our professional
services.'

MMC is a global professional services firm with annual revenues exceeding $9
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.  More than 50,000 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 Web site address is www.mmc.com.

For further information please contact:

William Pitt                                            Jim Fingeroth
MMC                                                     Kekst and Company
[phone]                                         [phone]