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Arthur J. Gallagher & Co. Acquires Classic Insurance Services, Ltd.

ITASCA, Ill., June 29, 2005 /PRNewswire-FirstCall via COMTEX/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Classic Insurance Services, Ltd. of Lisle, Illinois. Terms of the transaction were not disclosed.

Incorporated in 1983, Classic Insurance Services, Ltd. offers medical professional liability services for their physician and surgery center clients in the Midwest. Vincent T. Lovelle and his associates will continue to operate out of their Lisle, Illinois location as a unit of Gallagher Healthcare Insurance Services, a subsidiary of Arthur J. Gallagher & Co. They will be under the direction of James J. Braniff, III, South Central Regional Manager of Gallagher's Brokerage Services Retail Division.

J. Patrick Gallagher, Jr., President and Chief Executive Officer said, "Our acquisition program continues its steady pace as we acquire companies that add to our sales and service capabilities. Classic's medical malpractice expertise will fit perfectly into Gallagher Healthcare Insurance Services' fast-growing healthcare niche. We are extremely pleased to welcome Vince and his 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 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.

Marsha J. Akin, Investor Relations of Arthur J. Gallagher & Co., +1-630-773-3800