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Arthur J. Gallagher & Co. Announces Regular Third Quarter Dividend and Continuation of Its Stock Repurchase Plan

ITASCA, Ill., July 21 /PRNewswire-FirstCall/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today declared a regular quarterly cash dividend and announced the continuation of its stock repurchase plan.

Gallagher's Board declared a regular quarterly cash dividend of twenty eight cents ($.28) per share on the Common Stock of the Company, payable on October 14, 2005 to Shareholders of Record as of September 30, 2005.

Gallagher also announced the continuation of its stock repurchase plan, originally adopted on May 10, 1988, which authorizes the repurchase of up to 5,000,000 shares at such times and prices as the company may deem advantageous and in compliance with the SEC's Rule 10b-18. Douglas K. Howell, Chief Financial Officer, noted, however, that there was no commitment or obligation on the part of the company to purchase any particular amount of common stock and that the plan could be suspended at any time at the company's discretion. On June 30, 2005, the company had 94.6 million shares of its common stock outstanding.

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.
    -0-                             07/21/2005
    /CONTACT: Investor Relations, Marsha J. Akin of Arthur J. Gallagher & Co.,
    /Web site: /

CO:  Arthur J. Gallagher & Co.
ST:  Illinois

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0883 07/21/2005 16:24 EDT