Aon Fund to Provide for Educational Needs of Victims' Children; Aon to Contribute $10 million.

Business Editors

CHICAGO--(BUSINESS WIRE)--Oct. 3, 2001

Aon Corporation (NYSE:AOC) announced today that it has established the Aon Memorial Education Fund. The fund will support the educational needs of the children of Aon employees who were victims of the World Trade Center attack on September 11.

The fund, which was originally launched under the name "Aon Assistance Fund" on September 14, 2001, will focus specifically on providing funding for post-secondary education, as well as funding to assist families with the educational requirements of children with special needs. The fund will also continue to provide financial resources to respond to the immediate needs of the Aon families.

Aon will contribute $10 million to the fund, including up to $2 million in matching funds for employee gifts.

"As I have spoken to the families of the victims of this terrible tragedy, it has become clear to me that many are concerned about the ability to provide for educational needs of their children. Through this fund, we intend to honor the memory of our lost colleagues by helping ensure that their children can pursue an education," said Patrick G. Ryan, Aon's Chairman and Chief Executive Officer. "We are deeply grateful for the outpouring of interest in the Aon Memorial Education Fund from our employees, clients, partners, and friends, and we thank them for their commitment to helping these children pursue their education and their dreams for many years to come."

Contributions in the form of either a personal or cashier's check or money order should be made payable to "Aon Memorial Education Fund" and mailed to:

                  Aon Memorial Education Fund
                  C/o Harris Bank
                  36133 Treasury Center
                  Chicago, IL 60694-6100

Donations from those subject to U.S. federal income tax are deductible to the extent provided by law.

Aon Corporation (www.aon.com) is a holding company that is comprised of a family of insurance brokerage, consulting and insurance underwriting subsidiaries. Aon's common stock is listed on the New York, Chicago, Frankfurt and London stock exchanges.

This press release may contain certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, depending on a variety of factors such as general economic conditions in different countries around the world, fluctuations in global equity and fixed income markets, changes in commercial property and casualty premium rates, the competitive environment, the actual cost of resolution of contingent liabilities, the final form of the business transformation plan, the ultimate cost and timing of the implementation thereof, the actual cost savings and other benefits resulting therefrom, whether the Company ultimately implements the proposed spin-off of its underwriting operations, and the timing and terms associated therewith, and events surrounding terrorists attacks of September 11, 2001. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results are contained in the Company's filings with the Securities and Exchange Commission.