ACE Limited Plans Ordinary Share Offering.

Business Editors

HAMILTON, Bermuda--(BUSINESS WIRE)--Sept. 6, 2000

ACE Limited (NYSE:ACL) today announced that, subject to market conditions, it expects to price a public offering of up to $350 million of its ordinary shares (exclusive of any ordinary shares to be issued upon exercise of the underwriter's over-allotment option) this afternoon. Banc of America Securities LLC will act as the sole underwriter in the offering. The net proceeds from the sale of the ordinary shares will be used for general corporate purposes, which may include the repayment or repurchase of outstanding debt or hybrid trust preferred securities of one or more of ACE's subsidiaries.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the ordinary shares described herein nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful.

When available, copies of the prospectus may be obtained from Banc of America Securities LLC, 600 Montgomery Street, San Francisco, CA 94111 [phone] or 9 West 57th Street, New York, NY 10019, [phone].

The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at: www.acelimited.com.