20th Anniversary Global Day of Service

ACE Group Announces 20th Anniversary Global Day of Service

Auckland – November 7, 2005 – The ACE Group of Companies announced that the company is observing its 20th anniversary today by hosting a Global Day of Service, during which ACE employees in offices around the world will contribute their time to local community service projects.

More than 5,000 employees in 30 countries will be involved in approximately 150 projects that range from running a charity bazaar at the Seoul National University Children’s Hospital to volunteering time at a homeless shelter in Houston that is assisting victims of Hurricane Katrina.

In New Zealand, ACE has established a relationship with United Way, which provides funding assistance, volunteer time and necessary skills to help local human welfare charities. The charity ACE staff chose to support is Ambury Park Centre for Riding Therapy in Mangere Bridge. Ambury Park is an established charitable trust which uses horses to assist young people with a range of health and behaviour difficulties. 25 ACE employees will be landscaping the overgrown outside horse-riding arena so that it can once again be used.

ACE will also be making a donation to the Ronald McDonald Houses in both Wellington and Christchurch, to enable them to purchase much-needed equipment.

“To commemorate our anniversary, we are extending our appreciation to the communities that have supported us through these past 20 years,” said Evan Greenberg, President & Chief Executive Officer of ACE Limited. “The Global Day of Service represents a new milestone in our history. I want to particularly thank our employees, who believe that insuring progress begins in our own neighbourhoods.”

Scott Pickering, Managing Director of ACE New Zealand said “We wanted to mark ACE’s 20 year Anniversary by contributing positively to the local community. Our staff chose to help Ambury Park Centre for Riding Therapy because this benefits a wide cross-section of people with physical or learning difficulties. This project gives us a chance to get out into the community and offer hands-on support, rather than just writing a cheque.

We would like to thank Chemcouriers, Nufarm and Mitre 10 for supplying round-up, paint and gardening equipment and supplies for the team”.

The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), 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

Further information about Ambury Park Centre for Riding Therapy can be found at www.amburyparkcentre.org.nz

Further information about United Way can be found at www.unitedway.org.nz

ENDS

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