UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 13F

Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:  June 30, 2004

Check here if Amendment [  ];  Amendment Number:
     This Amendment  (Check only one.):	[] is a restatement.
					        	[    ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:	Marsh & McLennan Companies, Inc.
Address:	1166 Avenue of the Americas
	New York, New York  10036


Form 13F File Number:    28 - 93

The institutional investment manager filing this
 report and the person by whom it is signed hereby represent
 that the person signing the report is authorized to submit it, that
 all information contained herein is true, correct and complete, and
that it is understood that all required items, statements, schedules,
lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name: 	Mark J. Dallara
Title:	Vice President
Phone: 	(212) 345-5512

Signature, Place and Date of Signing:

_/s/  Mark J. Dallara___________
     8/13/2004
  [Signature]
      [City, State]	        [Date]

Report Type    (Check only one.):

[    ]	13F HOLDINGS REPORT.
(Check here if all holdings of this reporting manager
are reported in this report.)

[ X ]	13F NOTICE.   (Check here if no holdings
 reported are in this report, and all holdings are reported
 by other reporting manager (s).)

[    ]	13F COMBINATION REPORT.  (Check here
 if a portion of the holdings for this reporting manager are
reported in this report and a portion are reported by other
reporting manager (s).)

List of Other Managers Reporting for this Manager:

	Form 13F File Number	Name

	28 -90		Putnam
 Investment Management, LLC