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Arthur J. Gallagher & Co. Announces New Unsecured Credit Facility

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
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8343 10/05/2005 18:37 EDT http://www.prnewswire.com