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MARSH & McLENNAN COMPANIES, INC. REPORTS FIRST QUARTER RESULTS

 NEW YORK, April 21 /PRNewswire/ -- Marsh & McLennan Companies, Inc. (NYSE: MMC) today reported that revenue for the first quarter ended March 31, 1993, increased 8 percent to $834 million from $769 million for the same period of 1992. Income for the first quarter increased 6 percent to $107 million, compared with $101 million a year ago, and earnings per share were $1.46, compared with $1.40.
 The first quarter of 1992 has been restated to reflect the cumulative effect of accounting changes related to the adoption of SFAS No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions," and SFAS No. 109, "Accounting for Income Taxes." After reflecting the cumulative effect of these accounting changes, net income in the first quarter of 1992 was $61 million and earnings per share were $.84.
 Marsh & McLennan Companies, Inc. is a professional services firm with insurance and reinsurance broking, consulting and investment management businesses. More than 25,000 employees worldwide provide analysis, advice and transactional capabilities to clients in over 80 countries. Marsh & McLennan Companies' stock is listed on the New York, Midwest and Pacific stock exchanges (ticker symbol: MMC) and The London Stock Exchange.
 MARSH & MCLENNAN COMPANIES, INC.
 Consolidated Statements of Income
 (In millions, except per share figures)
 (Unaudited)
 Three Months Ended
 March 31,
 1993 1992(A)
 Revenue:
 Insurance Services $504.3 $446.8
 Consulting 215.3 228.3
 Investment Management 114.3 93.7
 Total Revenue 833.9 768.8
 Expense:
 Compensation and Benefits 415.3 384.5
 Other Operating Expenses 231.4 204.8
 Total Expense 646.7 589.3
 Operating Income 187.2 179.5
 Interest Income 3.1 3.9
 Interest Expense (11.3) (9.0)
 Other Expense - (.3)
 Income Before Income Taxes and
 Cumulative Effect of Accounting Changes 179.0 174.1
 Income Taxes 71.6 73.1
 Income Before Cumulative Effect
 of Accounting Changes 107.4 101.0
 Cumulative Effect of Accounting Changes,
 Net of Income Tax Benefit - (40.1)
 Net Income $107.4 $ 60.9
 Per Share Data:
 Income Before Cumulative Effect
 of Accounting Changes $1.46 $1.40
 Cumulative Effect of Accounting Changes - (.56)
 Net Income $1.46 $ .84
 Average Number of Shares Outstanding 73.3 71.9
 -0- 4/21/93
 (A) Restated to reflect the adoption, effective Jan. 1, 1992, of SFAS No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions," and SFAS No. 109, "Accounting for Income Taxes.
 -0- 4/21/93
 /CONTACT: Dong Kingman, Jr. of Marsh & McLennan Cos., 212-345-5573, or Andrew R. Baer of Kekst and Company, 212-593-2655, for Marsh & McLennan Cos./
 (MMC)


CO: Marsh & McLennan Companies Inc. ST: New York IN: INS SU: ERN

PS -- NY022 -- 8556 04/21/93 09:35 EDT
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Date:Apr 21, 1993
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