Robert A. Blee Named Chief Compliance Officer of ACE Limited

March 21, 2003

Brian Duperreault, Chairman and CEO of Bermuda-based ACE Limited announced that Robert A. Blee, currently Chief Accounting Officer, will assume the newly-created position of Chief Compliance Officer, which will include responsibility for monitoring and enhancing ACE’s internal controls on a global basis, assuring compliance with the Sarbanes-Oxley Act and other new reporting and disclosure requirements.

Brian Duperreault, Chairman and CEO of Bermuda-based ACE Limited announced that Robert A. Blee, currently Chief Accounting Officer, will assume the newly-created position of Chief Compliance Officer, which will include responsibility for monitoring and enhancing ACE’s internal controls on a global basis, assuring compliance with the Sarbanes-Oxley Act and other new reporting and disclosure requirements.

“In the wake of the many accounting and governance scandals in other industries, there is a need to place an even greater emphasis on internal control systems, and to pay close attention to new disclosure and reporting requirements. It is very important for us to run all of our companies with the utmost integrity and financial transparency,” Duperreault stated. “By naming such a highly respected and senior executive as Robert to this new position, we are demonstrating our full commitment to addressing these issues.”

Blee will retain his title and responsibilities as Chief Accounting Officer until a suitable replacement can be found.

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