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Towers Watson Completes Acquisition of Extend Health



  Towers Watson Completes Acquisition of Extend Health

Business Wire

NEW YORK -- May 29, 2012

Towers Watson (NYSE, NASDAQ: TW), a leading global professional services
company, today announced the completion of its acquisition of Extend Health,
Inc., which operates the largest private Medicare exchange in the United
States. The acquisition enables Towers Watson to provide employers with health
care solutions that combine specialized retiree medical transition consulting
with the choice and cost advantages of individual Medicare plans purchased on
a private exchange.

“Extend Health’s proven infrastructure and scalable exchange platform bring a
dynamic new offering to Towers Watson,” said John Haley, CEO of Towers Watson.
“Our market-leading solutions will provide our clients with an immediate and
unprecedented opportunity to deliver retiree medical benefit packages in a new
and cost-effective way.”

Extend Health will operate as a new business segment called Exchange Solutions
within Towers Watson alongside the existing segments of Benefits, Talent and
Rewards, and Risk and Financial Services. Bryce Williams, co-founder and CEO
of Extend Health, will lead the new segment.

“We are excited to join Towers Watson at this crucial time when many companies
are rethinking their retiree health benefits,” said Williams. “We look forward
to meeting the evolving needs of employers and retirees by building on both
organizations’ deep commitment to innovative, proven solutions and unwavering
client service.”

About Towers Watson

Towers Watson (NYSE, NASDAQ: TW) is a leading global professional services
company that helps organizations improve performance through effective people,
risk and financial management. The company offers solutions in the areas of
employee benefits, talent management, rewards, and risk and capital
management. Towers Watson has 14,000 associates around the world and is
located on the web at towerswatson.com.

About Extend Health

Extend Health, Inc., founded in 2004, operates the largest private Medicare
exchange in the country. For more information, visit Extend Health on the web
at extendhealth.com.

Forward-Looking Statements

This document contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. You can identify these
statements and other forward-looking statements in this document by words such
as “may,” “will,” “would,” “expect,” “anticipate,” “believe,” “estimate,”
“plan,” “intend,” “continue,” or similar words, expressions or the negative of
such terms or other comparable terminology. Such statements are based upon the
current beliefs and expectations of Towers Watson's management and are subject
to significant risks and uncertainties. Actual results may differ from those
set forth in the forward-looking statements.

The following factors, among others, could cause actual results to differ from
those set forth in the forward-looking statements: the risk that Extend Health
is not successfully integrated; the risk that the Extend Health business is
not profitable or accretive to Towers Watson’s earnings, or takes longer than
expected to generate the anticipated profitable and accretive results; the
risk that potential changes in federal and state health care regulations, or
future interpretation of existing regulations in this area, will have a
material adverse impact on Extend Health’s business model; the risk that the
Extend Health business would be harmed if it loses its relationships with
insurance carriers; the risk that the Extend Health business fails to maintain
good relationships with insurance carriers, becomes dependent upon a limited
number of insurance carriers or fails to develop new insurance carrier
relationships; the risk that changes and developments in the health insurance
system in the United States could harm the Extend Health business; and the
fact that Extend Health’s results of operations fluctuate depending upon
insurance carrier payment and reporting practices and the timing of Extend
Health’s receipt of commission payments from insurance carriers; the risk that
the Towers Perrin and Watson Wyatt businesses will not be integrated
successfully; the risk that anticipated cost savings and any other synergies
from the merger of Towers Perrin and Watson Wyatt may not be fully realized or
may take longer to realize than expected; the ability to successfully make and
integrate other acquisitions that are profitable; our ability to respond to
rapid technological changes; the ability to recruit and retain qualified
employees, particularly given the company’s recent changes in employee
compensation plans; and the risk that a significant or prolonged economic
downturn could have a material adverse effect on Towers Watson's business,
financial condition and results of operations. Additional risks and factors
are identified under “Risk Factors” in Towers Watson’s Annual Report on
Form 10-K, filed on August 29, 2011, with the SEC, as supplemented by
disclosure in Towers Watson’s Quarterly Report on Form 10-Q filed on February
7, 2012.

You should not rely upon forward-looking statements as predictions of future
events because these statements are based on assumptions that may not come
true and are speculative by their nature. Towers Watson does not undertake an
obligation to update any of the forward-looking information included in this
document, whether as a result of new information, future events, changed
expectations or otherwise.

Contact:

for Towers Watson
Kwittken & Company
Elliot Schimel, +1 646 747 0142
towerswatson@kwitco.com
or
for Extend Health, Inc.
Rob Wyse, +1 212 920 1470
rob@WT221.com
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