ACE Limited Announces Planned Redemption of Subsidiary Trust Preferred Securities.HAMILTON, Bermuda -- ACE Limited (NYSE NYSE See: New York Stock Exchange :ACE) announced today that, on December 22, 2005, its subsidiary ACE Capital Trust I will redeem all $100 million of its 8.875% Trust Originated Preferred Securities (CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. NO. 004402103), (NYSE:ACEPrA) at $25 per share plus accumulated and unpaid dividends to the redemption date. Payment of the redemption amount will be made through the facilities of The Depository Trust Company Depository Trust Company (DTC) DTC is the world's largest central securities depository. It accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executes book-entry deliveries (valued at over $116 trillion . The ACE Group of Companies is a global leader in insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. serving a diverse group of clients. Headed by ACE Limited, a component of the Standard & Poor's 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: http://www.acelimited.com. |
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