Marsh & McLennan Affirmed

August 7, 2000

The “AA-” counterparty credit and senior unsecured debt ratings on Marsh & McLennan Companies (MMC) was affirmed by S&P. Concurrently, MMC”s “A-1+” short-term counterparty credit rating was affirmed as was the “A-1+” commercial paper rating on Marsh USA Inc. The outlook is negative.