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ALEXANDER & ALEXANDER SERVICES INCREASES STOCK OWNERSHIP IN PORTUGUESE INSURANCE BROKER

 ALEXANDER & ALEXANDER SERVICES INCREASES
 STOCK OWNERSHIP IN PORTUGUESE INSURANCE BROKER
 NEW YORK, April 29 /PRNewswire/ -- Alexander & Alexander Services Inc. (A&A) (NYSE: AAL) today announced it has increased its equity ownership from 51 percent to 100 percent in Alexander & Mata, Lda., an insurance broking operation in Portugal.
 In addition, the company has changed its name to Alexander & Alexander Mediadores de Seguros Lda. Rita Fonseca will continue to serve as managing director of the new company.
 "Portugal is one of Europe's fastest growing economies," noted Michael J. Barrett, chief executive of Alexander Stenhouse Europe Limited. "It presents considerable opportunities for future growth in broking services."
 Barrett added, "This change demonstrates our long-term European strategy to create a unified identity and full equity control."
 The company's European operations assist clients through an established network of offices in over 60 European cities.
 A&A Services Inc. is a global insurance brokerage, risk management and human resource management consulting company serving clients from offices in more than 80 countries.
 -0- 4/29/92
 /CONTACT: Barbara Rosenbaum of Alexander & Alexander Services, 212-840-8500/
 (AAL) CO: Alexander & Alexander Services Inc. ST: New York IN: INS SU: TNM


CK -- NY054 -- 4384 04/29/92 12:34 EDT
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Publication:PR Newswire
Date:Apr 29, 1992
Words:199
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