ACE USA Special Risk Facilities Announces Organizational Changes in Pacific and Midwest Regions.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--May 31, 2001

ACE USA today announced changes in its leadership in the Pacific and Midwest Regions for its Special Risk Facilities (SRF) division.

Ric Pena, senior vice president, who had responsibility for the Pacific region, will now assume responsibility for the Midwest region based in Chicago. Kenneth Riegler, currently serving as vice president of SRF's Boston branch office, has been promoted to senior vice president and will be based in Los Angeles with responsibility for the Pacific region.

"With their proven leadership as field executives for SRF, Ric and Ken bring strengths that are uniquely suited to supporting our continued growth in the large-risk marketplace," said Bill Curcio, president of SRF. "These new assignments reflect the confidence we have in Ric and Ken and we look forward to their future successes in developing our book of business in these important regions. I am pleased to have Ric and Ken serve on our executive management team."

Pena has spent most of his career with ACE and its predecessor organizations, specializing in large-risk accounts. He has held various management positions in Dallas, Houston and San Francisco. Pena is a graduate of Texas A&M University and holds a bachelor of arts degree in finance.

"I am excited about the opportunity to build on SRF's existing strengths and to serve our customers and brokers in our Midwest Region," said Pena. "SRF's reputation of leadership in underwriting and in providing quality service offer an excellent point from which to grow."

With more than 11 years in the insurance industry, Riegler joined ACE USA in 1999, after working in various management positions in Reliance National's Risk Management Division and for New Jersey Manufacturer's Insurance Company. Riegler holds a master's degree in business administration specializing in international finance from St. John's University.

"I am looking forward to building on the well-deserved reputation SRF has earned among its large-risk customers," Riegler shared. "Serving the Pacific Region from Los Angeles will provide an even greater opportunity to serve our customers, especially those with whom I already have strong relationships."

ACE USA, headquartered in Philadelphia, is the U.S.-based operating division of the ACE Group of Companies, headed by ACE Limited (NYSE:ACE). ACE USA provides insurance products and services through the U.S. operating subsidiaries. ACE USA is rated "A" (Excellent) by A.M. Best and "A+" (Strong) by Standard & Poor's.

The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world. Additional information can be found at: www.ace-ina.com.