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ITASCA, Ill., Oct. 5 /PRNewswire-FirstCall/ -- Gallagher today announced that it entered into a $450 million unsecured credit facility, expiring on October 4, 2010, with a group of nine financial institutions led by Harris N.A., Citibank, N.A., and Barclays Bank PLC. Gallagher may also request an additional $100 million in funding capacity within the facility. Funds may be drawn for stock repurchase, future acquisitions or general corporate purposes. This agreement replaces a $250 million unsecured revolving credit facility that was due to expire in July 2006.
Arthur J. Gallagher & Co. (NYSE: AJG), 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- 10/05/2005 /CONTACT: Marsha J. Akin, Investor Relations of Arthur J. Gallagher & Co., +1-630-773-3800/ /Web site: http://www.ajg.com / (AJG) CO: Arthur J. Gallagher & Co.; Harris N.A.; Citibank, N.A.; Barclays Bank PLC ST: Illinois IN: INS FIN SU: FNC AM-AJ -- CGW062 -- 8343 10/05/2005 18:37 EDT http://www.prnewswire.com