Press Clippings from 2002

Derivatives Week

Marsh & McLennan Nabs Merrill Structured Finance Head

March 1, 2002

MMC Enterprise Risk, an operating entity of New York-based Marsh & McLennan Companies, has hired Ram Kelkar, a managing director in Merrill Lynch's structured finance group in New York, to head its enterprise risk management team for the Midwest region in Chicago, according to an official. Kelkar left Merrill last week.

Kelkar's enterprise risk management team is responsible for originating credit derivatives and structured finance transactions for Midwest clients, including corporate and financial institutions. This is a new position that was created as part of MMC's plan to grow the business into new areas of the U.S. He reports to Jamshid Ehsani, head of global transaction execution. Ehsani was travelling and could not be reached for comment.

While at Merrill Kelkar reported to Dansby White, managing director of the structured finance group. White did not return calls. Kelkar declined to comment.

Bloomberg News

MARSH USA HIRES KELKAR TO LEAD ENTERPRISE RISK MGMT PRACTICE

(The following is a reformatted version of a press release issued by Marsh USA Inc. and received via electronic mail. The release was confirmed by the sender.)

MARSH USA INC. STRENGTHENS MIDWEST LEADERSHIP TEAM

CHICAGO (April 25, 2002) - The Midwest Region of Marsh USA Inc., the world's leading risk and insurance firm, today announced it has strengthened its senior leadership team by naming industry veteran Arlene Corsetti as head of the Chicago office and Ram Kelkar, former Merrill Lynch Managing Director, as region leader of Marsh's Enterprise Risk Management Practice.

"Arlene Corsetti and Ram Kelkar bring tremendous expertise to the Marsh Midwest Region that will enable us to help our clients respond to the new reality of risk," said James Meathe, managing director and chairman of the Midwest Region for Marsh USA Inc. "We look forward to continuing our momentum in the Midwest and we are poised for exciting opportunities moving forward."

A 30-year veteran of the insurance industry, Corsetti will oversee all internal and external operations for Marsh's Chicago operations. In this position, she will manage client service, business development, insurance carrier relationships, information management and employee components. Additionally, Corsetti will continue to serve as the client manager for The Boeing Company, an account she has managed since 1999.

Corsetti joined Marsh & McLennan in San Francisco in 1984. During her 18 years with Marsh, she has developed extensive experience in integrated and alternative risk solutions and has been instrumental in establishing single parent and third-party captive insurance companies. Most recently, Corsetti served as head of Marsh's Seattle office.

As the region leader of Marsh's Enterprise Risk Management, Kelkar will oversee the rollout of the company's product capabilities, including the origination of structured finance transactions. This is a new position that was created as part of MMC's plan to grow the business in the Midwest by delivering advanced risk management solutions to its clients that integrate capital markets technology with MMC's unique strengths in the insurance markets.

Kelkar comes to Marsh from Merrill Lynch in New York, where he was most recently the Managing Director in the Structured Finance group, which was responsible for securitization transactions for a broad array of asset classes, including asset-backed securities and various forms of structured credit products including synthetic and funded CDOs.

Kelkar worked for 13 years for Citigroup, in various senior positions in Capital Markets businesses, after obtaining an MBA from The Wharton School. He was Managing Director and Head of the Public Structured Bond team with Salomon Smith Barney in London, England. He previously directed the Global Derivatives team for Frequent Issuers at Citibank in New York, providing comprehensive risk management solutions to address market risks. He has also designed interest rate, currency and equity hedging strategies for corporations in the Chemicals, Airlines and Defense industry sectors, including clients such as Dow Chemical and American Airlines. Early in his tenure at Citigroup, he co-founded and built the company's Railcar Leveraged Leasing Business.

Marsh USA Inc., the world's leading risk and insurance services firm, has 36,000 employees and annual revenues of $5.2 billion. The firm provides advice and transactional capabilities to clients in over 100 countries. Marsh is a unit of Marsh & McLennan Companies (MMC), a global professional services firm with 58,000 employees and annual revenues of $10 billion. MMC also is the parent company of Putnam Investments and Mercer Consulting Group. MMC's 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. Marsh's Web site address is www.marsh.com.

For more information, please contact: Heather Oldani 312 240-2696

(IM)PN

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#<191648># -0- (CRL) May/02/2002 18:56 GMT

Chicago Tribune

May 5, 2002

Starbucks Corp. promoted Jim McDermet to regional vice president in Chicago from regional director for the Pacific Northwest region based in Seattle.

Jones Lang LaSalle Inc. promoted Lawrence Deans to chief human resources officer from senior vice president human resources. Lisa Whitmore will succeed Deans as senior vice president. Previously Whitmore was human resource business partner for project and development services.

Ronald J. Trubiana joined Attorneys' Title Guaranty Fund Inc. as senior vice president and chief financial officer. Prior to joining ATG Trubiana was a partner of Tatum CFO Partners.

Baker & McKenzie appointed Nam H. Paik equal employment opportunity program partner for the North American region. Paik is currently the co-coordinator of the Asia-Pacific Practice Group.

AT&T Business named Jill Billhorn sales vice president for the Lakeside Center. Previously Billhorn was general manager for the Chicago area for XO Communications.

Morgan Services Inc., a textile rental company, named Gerard Kwiatkowski vice president. Previously Kwiatkowski was general manager of its Chicago division.

Marsh USA Inc., a risk and insurance firm, named Arlene Corsetti head of the Chicago office and Ram Kelkar region leader of Marsh's Enterprise Risk Management Practice. Corsetti was head of Marsh's Seattle office and Kelkar was managing director in the structured finance group for Merrill Lynch & Co.

Ferris Mfg. Corp. named Paul Coulis executive vice president of sales and marketing. Ferris Mfg. Corp. makes drug-free and irritant-free wound dressings.

Kevin B. Tynan was named deputy executive director/marketing of the American Lung Association of Metropolitan Chicago. Formerly Tynan was president of Tynan Marketing and Consulting.

FCL Builders Inc. promoted Nathan J. Peterson to project manager from assistant project manager.

Golub & Co. real estate firm promoted William E. Murray to senior vice president, accounting and administration, from controller.