ACE Appoints Schaekel Chief Auditor

May 11, 2005

Bermuda’s ACE Limited announced that Julie Schaekel, senior vice president of Financial Reporting, ACE USA, has been appointed chief auditor for the ACE Group of Companies.

Schaekel, who has 20 years of property and casualty auditing and financial reporting experience, will report to President & CEO Evan Greenberg and the Audit Committee of the company’s Board of Directors.

“Julie is the right person for the job,” Greenberg stated. “She has the experience, management track record and moral compass required of a great chief auditor. We are very fortunate to have an executive with this combination of skills and leadership in our finance organization.”

Schaekel joined ACE in 1998 as an assistant vice president of audit. Her background includes approximately 12 years of experience with Lincoln National, where she held a number of auditing assignments.

She replaces Jeanette Hughes, who has left the company.

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