Selling Stock

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	Stock Purchase Plan

	The Plan at a Glance

	Participating in the Plan

	How the Plan Works

		Contributions

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		Selling Stock

		Dividends

	Stock Ownership

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	Glossary

Selling Stock

You can sell the MMC common stock you bought at any time during New York Stock Exchange Market hours (9:30 a.m. to 4 p.m. Eastern time).

Note that you may be eligible for a tax benefit if you hold the stock for two years from the grant date before selling it.

If you elected joint registration of your shares, then you or your joint tenant can sell stock.

How do I sell stock held in my Smith Barney account?

You sell your stock by contacting Smith Barney:

Online: www.benefitaccess.com

Phone: (877) 281-3287 or (212) 615-7866 (U.S. employees only)

You have two options:

a market sell order – an order to sell shares at the market price in effect immediately after your sales request is received and accepted. If you place an order during New York Stock Exchange hours, shares are sold immediately and you are given a confirmation of the sales price within 45 seconds of the sale (whether you sell online or by phone). If your order is placed when the New York Stock Exchange is closed, it will be held until the Exchange opens again.

a limit sell order – an order to sell shares once the stock reaches a certain price, called the limit price, which generally must be within 125% of the shares' current price at the time you place the order. With this method, when the price reaches the limit specified, and your order has sufficient priority to be executed and satisfies any other condition prescribed by the market on which your security trades, your order is submitted for execution. The order remains in effect until it is executed or you cancel it.

How do I find out if a market or limit sell order has been executed?

You can learn if your order has been executed by contacting Smith Barney:

Online: www.benefitaccess.com

Phone: (877) 281-3287 or (212) 615-7866 (U.S. employees only)

How do I cancel a limit sell order?

You can cancel a limit sell order by contacting Smith Barney:

Online: www.benefitaccess.com

Phone: (877) 281-3287 or (212) 615-7866 (U.S. employees only)

Do I have to pay any fees when I sell stock held in my Smith Barney account?

Smith Barney's fee for selling shares, which will be deducted from your proceeds, is:


Actual Number of Shares Sold	Fee Per Share Sold
1–5,000	$ .06
over 5,000	$ .04

The minimum fee per order is $25, plus a $5 confirmation fee and the Securities and Exchange Commission's fee of $.01 per $653 of proceeds. If you want more information about brokerage fees, you should contact Smith Barney.

When will I receive my money after I sell stock held in my Smith Barney account?

Your proceeds check will be mailed three business days after the date your sale is executed. Proceeds can be wire transferred (there is an additional fee of $25 for wire transfers).

If you are placing your order on Smith Barney's website, you may authorize the wire transfer directly on the site. If you are placing the sale over the phone, complete the Smith Barney form, "Stock Plan Services, Letter of Authorization to Transfer Funds by Wire," available on the Smith Barney website. Note that unless the form is submitted by 4 p.m. Eastern time on the date following your trade date, your proceeds will be mailed to you by check.