2008-05-14 02:02:59 -

- ACE Limited (NYSE:ACE) announced today that on June 13, 2008, it will redeem all $575 million of its 7.80% Cumulative Redeemable Preferred Shares Series C and the related depositary shares (CUSIP NO. G0070K111) (NYSE: ACE PrC). The redemption price will be $25.00 per depositary share plus accumulated and unpaid distributions up to, but not including, the redemption date. Payment

of the redemption amount will be made through the facilities of The Depository Trust Company.

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 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.

ACE Limited, Hamilton
Investor Contact:
Helen M. Wilson, 441-299-9283
helen.wilson@ace.bm
or
Media Contact:
Patrick F. McGovern, 212-827-4426
patrick.mcgovern@ace-ina.com