Exhibit 99.1

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Towers Watson Reports First Quarter Adjusted Diluted EPS of $1.19

Increases Expected Fiscal 2012 Adjusted Diluted EPS Range to $4.95 to $5.10

New York — November 7, 2011 — Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, today announced financial results for the first quarter of fiscal year 2012, which ended September 30, 2011.

Revenues were $810 million for the quarter, an increase of 8% (5% constant currency) from $751 million for the first quarter of fiscal 2011. On an organic basis which excludes the impact of changes in foreign currency exchange rates, acquisitions and divestitures, revenues increased 2% from the prior-year first quarter.

EBITDA for the first quarter of fiscal 2012 was $132 million, or 16% of revenues, an increase from $92 million, or 12% of revenues, for the prior-year first quarter. Adjusted EBITDA for the first quarter of fiscal 2012 was $162 million, or 20% of revenues, an increase from $131 million, or 18% of revenues, for the prior-year first quarter.  Adjusted EBITDA excludes transaction and integration costs as well as non-cash stock-based compensation arising from the merger.

Net income attributable to controlling interests for the first quarter of fiscal 2012 was $60 million, an increase from $33 million for the prior-year first quarter. For the quarter, diluted earnings per share were $0.82 and adjusted diluted earnings per share were $1.19. Adjusted diluted earnings per share increased 29% from the prior-year first quarter. Adjusted diluted earnings per share include a normalized income tax rate and exclude transaction and integration costs, non-cash stock-based compensation arising from the merger, amortization of merger accounting intangible assets and non-recurring other income. The normalized tax rate for the quarter was 37%.

“We are pleased with how our business performed this quarter,” said John Haley, chief executive officer. “We continue to deliver revenue growth while maintaining strong margins. While the general economic environment remains uncertain, I am confident that Towers Watson continues to be well-positioned for success.”

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First Quarter Company Highlights

Benefits

For the quarter, the Benefits segment had revenues of $455 million, an increase of 7% (2% organic) from $425 million in the prior-year first quarter. Revenues increased in all lines of business:  Retirement; Technology and Administration Solutions; and Health and Group Benefits. Retirement and Technology and Administration Solutions were led by increased client activity in North America.  Health and Group Benefits continued to see increased client demand for strategy work. The Benefits segment had a Net Operating Income (“NOI”) margin of 32% in the first quarter of fiscal 2012.

Risk and Financial Services

For the quarter, the Risk and Financial Services segment had revenues of $194 million, an increase of 17% (3% organic) from $166 million in the prior-year first quarter. All lines of business grew this quarter. Overall segment growth was driven by increases in Risk Consulting and Software, which was largely due to the acquisition of EMB. Organic growth within the segment was led by Brokerage, which saw new business activity in Europe and improving pricing conditions. Investment Services continued to experience softness in Europe, which was offset by increases in North America and Asia Pacific. The Risk and Financial Services segment had an NOI margin of 26% in the first quarter of fiscal 2012.

Talent and Rewards

For the quarter, the Talent and Rewards segment had revenues of $140 million, an increase of 3% (2% organic) from $136 million in the prior-year first quarter. Organic growth in Rewards, Talent and Communication and Executive Compensation was partially offset by soft revenues in Data, Surveys and Technology. Increased client demand and strong activity around the annual benefits enrollment cycle contributed to the quarter. The Talent and Rewards segment had an NOI margin of 18% in the first quarter of fiscal 2012.

Outlook for Fiscal 2012

For fiscal 2012, the company expects to report revenues in the range of $3.4 billion to $3.5 billion and adjusted diluted earnings per share in the range of $4.95 to $5.10.  Adjusted diluted earnings per share include a normalized income tax rate and exclude transaction and integration costs, non-cash stock-based compensation arising from the merger, amortization of merger accounting intangible assets and non-recurring other income.  This guidance assumes an average exchange rate of 1.60 U.S. dollars to the British Pound and 1.40 U.S. dollars to the Euro for the remainder of fiscal 2012.

For the second quarter of fiscal 2012, the company expects to report revenues in the range of $840 million to $855 million and adjusted diluted earnings per share in the range of $1.18 to $1.22. Adjusted diluted earnings per share include a normalized income tax rate and exclude transaction and integration costs, non-cash stock-based compensation arising from the merger,  amortization of merger accounting intangible assets and non-recurring other income. This guidance assumes an average exchange rate of 1.60 U.S. dollars to the British Pound and 1.40 U.S. dollars to the Euro for the second quarter of fiscal 2012.

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Conference Call

The company will host a live webcast and conference call to discuss the financial results for the first quarter of fiscal 2012. It will be held on Monday, November 7, 2011, beginning at 9:00 a.m. Eastern Time, and can be accessed via the Internet at www.towerswatson.com. The replay of the call will be available shortly after the live call for a period of three months. A telephonic replay will also be available for one week after the call by dialing 617-801-6888 and using confirmation number 18511771.

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 www.towerswatson.com.

Use of Non-GAAP Measures

The company defines EBITDA as net income before non-controlling interests adjusted for provision for income taxes, interest, depreciation and amortization. We use EBITDA in evaluating our financial performance. Although EBITDA is not a measure of financial condition or performance determined in accordance with U.S. generally accepted accounting principles (GAAP), we believe that it is a useful measure for evaluating our results of operations as compared from period to period and in providing a baseline for the evaluation of future operating performance. A reconciliation of net income before non-controlling interests to EBITDA is included in the accompanying tables to today’s press release. EBITDA is not defined in the same manner by all companies and may not be comparable to other similarly titled measures of other companies unless the definition is the same.

The company also uses adjusted measures of income to evaluate its performance internally and separately evaluates its performance of transaction and integration activities as well as changes in tax law. Adjusted EBITDA and Adjusted diluted earnings per share are not determined in accordance with GAAP. However, we believe these measures are useful in evaluating our results of operations and in providing a baseline for the evaluation of future operating results.  Reconciliations of EBITDA to Adjusted EBITDA (and from net income before non-controlling interests, the most comparable GAAP financial measure, to EBITDA), and diluted earnings per share to Adjusted diluted earnings per share are included in the accompanying tables to today’s press release. Adjusted measures of income may not be defined in the same manner by all companies, and our adjusted measures of income may not be comparable to similarly titled measures of other companies unless the definition is the same.

Non-GAAP measures should be considered in addition to the information contained within our financial statements.

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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 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 profitable acquisitions; the risk that the acquisitions of EMB or Aliquant Corporation are not profitable or are not otherwise successfully integrated; the ability to successfully address issues surrounding the number of company shares that will become freely tradable on January 1, 2012; 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 to retain client relationships, particularly in the executive compensation business, given recent Securities and Exchange Commission (SEC) and other regulatory actions; 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.

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.

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TOWERS WATSON & CO.

Segment Information

(Thousands of U.S. Dollars)

(Unaudited)

Segment Revenue

Reconciliation of Reportable Segment Revenues to Consolidated Revenues

Segment Net Operating Income

Reconciliation of Reportable Segment Net Operating Income to Income from Operations

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TOWERS WATSON & CO.

Reconciliation of Non-GAAP Measures

(Thousands of U.S. Dollars, Except Per Share Data)

(Unaudited)

The company completed the merger of Towers Perrin and Watson Wyatt on January 1, 2010, and is incurring significant transaction and integration costs.  The company is also incurring significant non-cash charges from stock-based compensation arising from the merger and the amortization of merger accounting intangible assets.  The company’s management uses adjusted measures of income to evaluate its performance internally and separately evaluates its performance of transaction and integration activities.  Management determined that this information is useful to investors in evaluating its results of operations and providing a baseline for evaluation of future operating results.  Reconciliations of our non-GAAP measures to GAAP measures are as follows.

(a) Other non-operating income includes income from affiliates and other non-operating income

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TOWERS WATSON & CO.

Condensed Consolidated Statements of Operations

(Thousands of U.S. Dollars, Except Per Share Data)

(Unaudited)

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TOWERS WATSON & CO.

Condensed Consolidated Balance Sheets

(Thousands of U.S. Dollars, Except Share Data)

(Unaudited)

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TOWERS WATSON & CO.

Condensed Consolidated Statements of Cash Flows

(Thousands of U.S. Dollars)

(Unaudited)

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