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Arthur J. Gallagher & Co. Acquires Belmont Associates Consultants, Inc.

ITASCA, Ill., June 7 /PRNewswire-FirstCall/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Belmont Associates Consultants, Inc. of Rosemont, Pennsylvania. Terms of the transaction were not disclosed.

Founded in 1980, Belmont Associates Consultants, Inc. offers a wide-range of employee benefit consultation and brokerage services that include strategic analysis, planning and design; financial services consulting; legislative compliance; and employee communications support. Thomas Belmont, Jr. and his associates will continue to operate at their current location under the direction of David Ziegler, Eastern Regional Executive Vice President of Gallagher Benefit Services, Inc., a subsidiary of Arthur J. Gallagher & Co.

J. Patrick Gallagher, President and CEO of Arthur J. Gallagher & Co., stated, "With their capabilities-based, team approach to client service, this outstanding organization is a great example of our merger partner of choice. Belmont Associates' philosophy of client-focused service and dedicated teamwork will fit well within our culture. We are pleased to welcome Tom and his associates to our growing Gallagher family of professionals."

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in seven countries and does business in more than 110 countries around the world through a network of correspondent brokers and consultants. Gallagher is traded on the New York Stock Exchange under the symbol AJG.

SOURCE  Arthur J. Gallagher & Co.
    -0-                             06/07/2005
    /CONTACT:  Marsha J. Akin, Investor Relations of Arthur J. Gallagher &
Co., +1-630-773-3800/
    /Web site: /

CO:  Arthur J. Gallagher & Co., Belmont Associates Consultants, Inc.
ST:  Illinois, Pennsylvania

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9142 06/07/2005 15:39 EDT