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    Willis Group Reaffirms Call for Ending Contingent Agreements with Insurance Carriers

    Company Only Major Broker to Take A Stand Against Contingents

    Tells N.Y. Regulators Playing Field Should Be Made Level For All Brokers

    New York, NY, July 25, 2008- Don Bailey, CEO of Willis North America, a subsidiary of Willis Group Holdings (NYSE: WSH), the global insurance broker, today told members of the New York Superintendent of Insurance and Attorney General's panel that the insurance industry has failed on its own to reform the practice of contingent commission payments to brokers and said regulators must finish the job begun by former Attorney General Eliot Spitzer in 2004.

    Among the major insurance brokers to testify at hearings today in Manhattan, Willis was the only one to take a stand against the practice of insurance companies paying contingent commissions to brokers.

    "The practice of contingent commission payments is fundamentally at odds with the best interest of clients," Mr. Bailey said. "We continue to believe strongly that former Attorney General Spitzer missed a great opportunity to do the right thing by banning all brokers from accepting contingents. For whatever reason, he left the job unfinished. The result is the largest brokers now work within new boundaries, but the rest of the industry does not work within the same boundaries.

    "If we are truly serious about raising standards in our industry, a formal ban of contingent compensation agreements is the right thing to do," Mr. Bailey continued. "We can live with regulation and the higher cost of compliance - even if it makes us work harder to drive more profitability for our business. But we believe we have a right to expect that this regulation be uniform across the industry."

    Mr. Bailey's testimony today was the second time he has addressed a public hearing in New York State this month as officials consider a proposed regulation on the subject of insurance producer compensation standards and disclosure. On July 14, Mr. Bailey testified in Buffalo, N.Y.

    In October 2004, Willis became the first insurance broker to voluntarily commit to ending the practice of accepting contingent commissions. As part of that initiative, Willis established a Client Bill of Rights - a 10-point document emphasizing the Company's commitment to client service, transparency and best practices.

    Over the last several years, Willis executives have been outspoken public advocates of applying a consistent standard for compensation practices and transparency in disclosure in order to strengthen client confidence and faith in the insurance industry.

    About Willis Group Holdings

    Willis Group Holdings Limited (NYSE: WSH) 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. Willis has more than 300 offices in some 100 countries, with a global team of approximately 16,000 Associates serving clients in some 190 countries. Additional information on Willis may be found at www.willis.com.

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    Editor's Note: A copy of the full text of Mr. Bailey's testimony can be found at: http://www.willis.com/documents/Media_Room/Press_Releases/2008/ Oral_Testimony_for_July_25_Public%20Hearing_final.pdf

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