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Arthur J. Gallagher & Co. Acquires Chris Schroeder Insurance, Inc.

ITASCA, Ill., April 29, 2005 /PRNewswire-FirstCall via COMTEX/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Chris Schroeder Insurance, Inc. of Milwaukee, Wisconsin. Terms of the transaction were not disclosed.

Founded in 1888, Chris Schroeder Insurance, Inc. is a property/casualty retail insurance broker offering risk management, commercial, and personal lines insurance services to their Midwest client base. They specialize in insurance products for religious, institutional, non-profit and higher educational businesses. Daniel Johnson, John Aghbashian and their staff will continue to operate from their current Milwaukee location under the direction of Thomas J. Gallagher, Midwest Regional Manager of Gallagher's Brokerage Services Division - Retail.

J. Patrick Gallagher, Jr., President and Chief Executive Officer said, "Our acquisition strategy focuses on partnering with quality organizations that extend our product and services capabilities and add to our geographic locations. Chris Schroeder Insurance is a great cultural fit to our Milwaukee operations, and their specializations help to expand our higher education, religious and non-profit niche strategy. We are extremely pleased to welcome Dan, John and their team 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 eight countries and does business in more than 100 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.

Marsha J. Akin, Investor Relations of Arthur J. Gallagher & Co., +1-630-777-3800