2008-05-24 15:00:37 -

- The ACE Group of Companies (NYSE:ACE) announced today that the ACE Foundation - International has made a $1 million contribution to the Red Cross Society of China to support emergency relief efforts following the earthquake that struck China's Sichuan Province.

ACE conducts property and casualty insurance, life insurance and asset management operations in China through its strategic investment

in the Huatai group of insurance companies. While all Huatai employees in the impacted area have been accounted for, several life agents are still missing, and many employees in the area have lost family members.

"The earthquake that struck Sichuan Province is a terrible human tragedy with substantial loss of life, catastrophic damage and millions left homeless," said Evan G. Greenberg, Chairman and Chief Executive Officer of ACE Limited. "We are thankful that our Huatai colleagues are lending assistance to others in need. All of us at ACE express our deepest sorrow to those who have experienced loss, and our hearts go out to the Chinese people."

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 of Companies conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com.

The ACE Group of Companies, New York
Patrick F. McGovern, 212-827-4426
patrick.mcgovern@ace-ina.com