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Arthur J. Gallagher & Co. Acquires Y. S. Liedman & Associates

ITASCA, Ill., May 12, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Y. S. Liedman & Associates of Miami, Florida. Terms of the transaction were not disclosed.

Established in 1973, Y. S. Liedman & Associates offers a wide range of employee benefit consultation and brokerage services which include qualified and non-qualified retirement planning, group benefits, life insurance, and financial planning services, with their capabilities extending to both national and international clients. Y. Stephen Liedman, Mark Levitats, Gregg Fine and their associates will operate from offices in Miami and Boca Raton 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, "For a merger partnership to work smoothly, it must first have the same cultural beliefs and goals. This is exactly what we found in Y. S. Liedman. Not only are they a cultural match, they are also focused on strong, steady growth through a team-based approach that puts their clients first. They will be an excellent addition to our Benefit Services Division, and we are pleased to welcome Steve, Mark, Gregg and their 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 120 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