WILLIS GROUP HOLDINGS LIMITED PRICES SECONDARY
OFFERINGS OF COMMON STOCK
LONDON, Nov. 8 -- Willis Group
Holdings Limited (NYSE: WSH), the global insurance
broker, announced that the secondary public
offering by certain of its shareholders of 17,500,000
shares of common stock has been priced at $24.25.
The selling shareholders have also granted the
underwriters an option to purchase up to 2,625,000
additional shares to cover over-allotments,
if any. The selling shareholders include Profit
Sharing (Overseas), Limited Partnership, an
affiliate of Kohlberg Kravis Roberts & Co.
L.P. and the majority shareholder of Willis,
and six major insurance companies, Axa Insurance,
Royal & SunAlliance Insurance Group, The
Chubb Corporation, The Hartford Financial Services
Group, Inc., Travelers Property Casualty Corp.
and The Tokio Marine and Fire Insurance Co.,
Limited.
Salomon Smith Barney served as bookrunning
manager for the offering; JPMorgan, Morgan Stanley
& Co., Banc of America Securities LLC, Credit
Suisse First Boston, Merrill Lynch & Co.
and UBS Warburg were the co-managers.
Willis Group Holdings is a leading global insurance
broker, developing and delivering professional
insurance, reinsurance, risk management, financial
and human resource consulting and actuarial
services to corporations, public entities and
institutions around the world. With over 300
offices in more than 74 countries, its global
team of 13,000 employees serves over 50,000
clients in 160 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 (symbol: WSH).
This announcement 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 the registration
or qualification under the securities laws of
any such state. The offering of these securities
is made only by means of a prospectus, copies
of which may be obtained from Salomon Smith
Barney, Brooklyn Army Terminal, 140 58th Street,
5th Floor, Brooklyn, NY 11220 (telephone: 718-765-6732).
CONTACT:
Investors:
Kerry K. Calaiaro
+1-212-837-0880
calaiaro_ke@willis.com
Media:
Nicholas Jones
+44-20-7488-8190
jonesnr@willis.com
or
Dan Prince, +1-212-837-0806,
prince_da@willis.com
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