Arthur J. Gallagher International Hires Oxygen Team

London: 5 August, 2011:

Arthur J. Gallagher International (Gallagher), has announced today that it has entered into an agreement with two subsidiaries of Oxygen Holdings Limited (Oxygen), whereby Oxygen has agreed to release a number of executives from their restrictive covenants with immediate effect. The team of 21 staff specialise in sectors such as Construction, Power and Mining, Professional Indemnity, Management Risks, Binders and Facilities. The terms of the transaction are not disclosed.

Clients will experience an uninterrupted service and will continue to be supported by the same specialists who have looked after them at Oxygen. Clients will also benefit from the resources and opportunities a larger organisation can provide.

David Ross, CEO of Arthur J. Gallagher International, said: “This agreement represents the culmination of lengthy discussions and builds on the already excellent trading relationship originated by the sale to Gallagher of Oxygen’s underwriting business in September 2008. The move is a natural extension of this relationship and will complement and enhance Gallagher’s existing capabilities.”

Commenting on the move, Nigel Barton, CEO of Oxygen Holdings plc, said: “Oxygen has a successful track record in developing some great entrepreneurial talent. We are accustomed to buying as well as selling. We have been successful acquirers of exciting businesses in Smart & Cook Consulting and Robertson Taylor and have also successfully sold OIM Underwriting.

“The London market team is comprised of strong entrepreneurial brokers who will thrive within the Gallagher International business. As a result of the move we will now be in a position to reinvest in the remaining elements of the group to enable them to develop and grow further.”

ENDS

 Press Contacts:

 Ross Gow, ACUITY Reputation, +44 (0)20 3088 7788 ross@acuityreputation.com

Alex Wise, Concise Public Relations, +44 (0)20 7100 3960 alex@concisepr.com