ACE Global Markets Expands Aviation Team With Appointment From Ace Bermuda.

LONDON--(BUSINESS WIRE)--June 30, 1999--

ACE Global Markets Limited, a subsidiary of ACE Limited (NYSE:ACL), announced today the appointment of David Slevin, 33, as Senior Underwriter for Ariel Aviation Syndicate 960, a leading Lloyd's Aviation syndicate.

David has worked for the aviation division of ACE Bermuda since 1995 where he is currently Vice President, underwriting a broad aviation account. He will be transferring to ACE Global Markets on 1st September, 1999.

Commenting on the appointment, John Charman, Chief Executive Officer ACE Global Markets, said, "We are delighted that David has agreed to join ACE Global Markets and his transfer from Bermuda will enhance and strongly complement John Green's aviation team. This is further evidence of the commitment ACE made earlier this year to continue to develop a truly first-class service for our aviation clients and brokers from a London hub."

John Green, Active Underwriter Syndicate 960 of ACE Global Markets, believes David's experience in the company market in both the UK and Bermuda and his extensive client contact will add a further dimension to the London team's existing expertise. "I have known David for a number of years and look forward to working closely with him in the near future."

Gary Cooke, Senior Vice President Aviation for ACE Bermuda, said, "This transfer of expertise is an example of a fostering of global cooperation among our operating units. While we are sorry that David is leaving Bermuda, we are pleased that he remains within the ACE Group of Companies and his participation will strengthen the ACE Global Markets aviation team."

Prior to joining ACE in Bermuda, David spent five years working for Eagle Star and a further five years with the British Aviation Insurance Group (BAIG) after Eagle Star became a member of the BAIG in January 1991. He qualified as an ACII in 1987.

ACE Global Markets manages one of the largest managing agency groups at Lloyd's with approximately (pound)635 million of capacity.

On January 12th 1999, ACE Limited announced it had agreed to acquire the international and domestic property and casualty businesses of CIGNA Corporation for US$3.45 billion in cash. The transaction, which is subject to receipt of necessary regulatory approvals and other customary closing conditions, is expected to be completed by the end of ACE's fiscal 1999 third quarter.

The ACE Group of Companies provides insurance and reinsurance for a diverse group of international clients. Operating subsidiaries are based in Bermuda, the United States, the United Kingdom (Lloyd's) and the Republic of Ireland. At March 31st 1999, ACE Limited had approximately $8.9 billion in assets and approximately $4 billion in shareholders' equity.