Aon Names Richard Gieryn General Counsel of Combined Specialty Corporation.

Business Editors

CHICAGO--(BUSINESS WIRE)--Feb. 27, 2002

Aon Corporation (NYSE: AOC) today named Richard Gieryn General Counsel, Combined Specialty Corporation.

"We're very pleased to have Rick join our team as General Counsel and a member of our senior management group," said Dennis B. Reding, Chief Executive Officer of Combined Specialty Corporation. "He has 20 years of legal experience, encompassing both the private and corporate law sectors. He will be a tremendous asset to our team."

Mr. Gieryn will report to Mr. Reding, and will be based in Atlanta.

Mr. Gieryn began his legal career in 1982 as a civil trial attorney, specializing in product liability defense and insurance coverage litigation. In 1993, Mr. Gieryn moved into corporate law, first as a corporate attorney and later as general counsel for a major global insurance company, overseeing, directing and advising on all legal matters, with management responsibility for all legal staff.

Mr. Gieryn graduated Cum Laude from Duke University in 1979 with a degree in Accounting and Management Science. He received his JD degree from Emory School of Law in 1982.

In 2001, Aon announced plans to spin off its underwriting operations to stockholders through a new company to be named Combined Specialty Corporation. The spin-off is scheduled for spring, 2002.

Aon Corporation (http://www.aon.com) is a holding company that is comprised of a family of insurance brokerage, consulting and insurance underwriting subsidiaries.

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, including the timing and resolution of related insurance and reinsurance issues. 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.