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ALEXANDER & ALEXANDER ACQUIRES AUSTRALIAN BROKER AIBA LIMITED

NEW YORK, March 8 /PRNewswire/ -- Alexander & Alexander Services Inc. (A&A) has expanded its Asia Pacific operation with the purchase of the assets of AIBA Holdings Pty. Ltd. (AIBA), Australia's seventh largest insurance broking and risk management consulting firm.

The transaction involves approximately 46 offices with revenues of $23 million (U.S).

Timothy P.S. Gibson, CEO of A&A's Asia Pacific region, said, "In keeping with A&A's acquisition strategy, AIBA's assets will broaden our geographic representation while adding valuable new professional talent in important business segments, including construction and education."

He added, "With the AIBA transaction, A&A becomes the largest insurance broker and risk management consulting firm in Australia."

A&A Services Inc. [NYSE:AAL] provides professional risk management consulting, insurance brokerage and human resources consulting services from offices in more than 80 countries.
 -0- 3/8/96


/CONTACT: Susy Hayes of Alexander & Alexander, 212-444-4593/

(AAL)

CO: Alexander & Alexander Services Inc.; AIBA Holdings Pty. Ltd. ST: New York IN: FIN SU: TNM

KS -- NYF044 -- 1663 03/08/96 14:51 EST
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Publication:PR Newswire
Date:Mar 8, 1996
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