ACE USA Announces Senior Leadership Appointments and Organizational Changes in ACE Risk Management.

PHILADELPHIA -- ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, today announced a new organizational structure and senior leadership appointments in which two executives will oversee the national operations for ACE Risk Management[R] (ARM) and management of ARM's regional branch offices. These changes include a strategic alignment of overall operations and the creation of two distinct operating units: ARM National Accounts and ARM Commercial Accounts. Under the overall leadership of William Curcio, President of ACE Risk Management, these changes include the internal promotions of Jay Lefkowitz and Ken Riegler to Operating Officers to oversee this new organizational structure, and each unit will be supported by a dedicated team of actuarial, claims and financial specialists. Mr. Lefkowitz and Mr. Riegler will both continue to report to Mr. Curcio.

"Today's risk managers and brokers need committed partners that can respond to their unique requirements and the constantly evolving marketplace. As a leader in providing customized risk management solutions, this new organization structure allows us to address our clients' needs and complements the full breadth of products and services ACE has to offer," said Mr. Curcio. "These appointments were made in recognition of the accomplishments and talents of these two key leaders. The scope of their combined industry experience further strengthens our ability to provide customized products and services to our clients."

ARM National Accounts:

Jay Lefkowitz, Executive Vice President, will lead ARM National Accounts, which provides risk management programs and services to larger companies with a minimum of $5M and above in combined expected losses. Mr. Lefkowitz, currently Executive Vice President and Director of Field Operations for ARM, joined ACE USA in November 1999 as Senior Vice President of the Northeast Region. With more than 23 years of experience in the large-risk arena, Mr. Lefkowitz previously served in a variety of senior leadership and national accounting roles at AIG, CNA, Atlantic Mutual and Home Insurance. He received his Bachelor of Science degree in Finance from Boston University and an M.B.A. from Pace University in New York City. Mr. Lefkowitz is based in New York City.

ARM Commercial Accounts:

Ken Riegler, Executive Vice President, will lead ARM Commercial Accounts, which provides a full array of risk management program structures to companies and is segmented into two distinct sub-units as follows: ARM Major Accounts focuses on clients with a minimum of $1M to $5M in combined expected losses and ARM Commercial Select focuses on clients with a minimum $1M and below in combined expected losses. Mr. Riegler, who currently serves as Executive Vice President and Director of Field Operations, joined ACE USA in 1999 as Vice President, ARM Boston Branch, and was subsequently promoted as Senior Vice President, Western Branch Operations. He previously held various management positions with Reliance Insurance Company's National Risk Management Division and New Jersey Manufacturer's Insurance Company. With more than 15 years of experience in the large risk insurance arena, he received his Bachelor of Science degree in Business Administration from Springfield College in Springfield, Mass., and an M.B.A. in International Finance from St. John's University in New York City. Mr. Riegler is based in New York City.

ACE Risk Management offers comprehensive risk management programs and services that are uniquely designed and customized to assist companies in any industry deal with the significant costs of financing and managing risk. To learn more about ACE Risk Management's products and services, visit www.aceriskmanagement.com.

ACE USA is the U.S.-based retail operating division of the ACE Group of Companies, headed by ACE Limited (NYSE:ACE), and is rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor's. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.