ACE Limited (NYSE: ACE) announced today that, subject to market conditions, its subsidiary, ACE INA Holdings Inc., intends to sell up to $300 million of senior notes. The notes will be guaranteed by ACE Limited.

The net proceeds from the sale of the senior notes plus surplus cash will be used to repay all $300,000,000 of the 8.30% Notes due August 15, 2006.

The lead underwriters for the proposed offering are Banc of America Securities LLC and Wachovia Securities.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the senior notes or any other securities, nor will there be any sale of the senior notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The ACE Group of Companies is a global leader in insurance and reinsurance 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: www.acelimited.com.

# # #