WILLIS GROUP HOLDINGS LIMITED FILES REGISTRATION
STATEMENT FOR SECONDARY PUBLIC OFFERING OF COMMON
STOCK
LONDON, May 7, 2002 -- Willis
Group Holdings Limited (NYSE:WSH), the global
insurance broker, today filed a registration
statement with the Securities and Exchange Commission
relating to a proposed public offering of $450
million of its common stock by Profit Sharing
(Overseas), Limited Partnership, an affiliate
of Kohlberg Kravis Roberts & Co. L.P. and
the majority shareholder of Willis.
Certain other institutional holders of Willis
may also sell shares in the offering. The selling
shareholders also intend to grant to the underwriters
an option for a period of 30 days to purchase
up to an aggregate of $67.5 million additional
common stock to cover over allotments, if any.
Willis will not issue any shares of common stock
in the offering.
Salomon Smith Barney Inc. and J.P. Morgan Securities
Inc. are serving as joint bookrunning managers
for the offering. Copies of the preliminary
prospectus related to the offering, when available,
may be obtained from Salomon Smith Barney, Brooklyn
Army Terminal, 140 58th Street, 5th Floor, Brooklyn,
NY 11220 (telephone: 718/765-6732) or J.P. Morgan
Securities, 277 Park Avenue, New York, NY 10172
(telephone: 212/622-5219).
Willis Group Holdings Limited is a leading
global insurance broker, developing and delivering
professional insurance, reinsurance, financial
and human resource consulting and actuarial
services to corporations, public entities and
institutions around the world. With over 300
offices in more than 100 countries, its global
team of 13,000 Associates serves clients in
some 180 countries. Willis has particular expertise
in serving the needs of clients in such major
industries as construction, aerospace, marine
and energy. In June 2001 the Group
returned to public ownership and is listed on
the New York Stock Exchange (NYSE: WSH).
A registration statement relating to these
securities has been filed with the Securities
and Exchange Commission but has not yet become
effective. These securities may not be sold
nor may offers to buy be accepted prior to the
time the registration statement becomes effective.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities
in any state in which such offer, solicitation
or sale would be unlawful prior to registration
or qualification under the securities laws of
any such state.
Contacts:
Willis Group Holdings Limited
Investors:
Kerry K. Calaiaro,
212/837-0880
calaiaro_ke@willis.com
or
Media:
Nicholas Jones,
+1 44 20 7488-8190
jonesnr@willis.com
or
Dan Prince,
212/837-0806
prince_da@willis.com
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