executive officer -- 1985 ACE opens its first office in Hamilton with six full-time employees -- January 1W986 ACE assumes management of Corporate Officers and Directors Assurance Ltd (CODA), a specialist D&O underwriter -- October 1987 Walter Scott becomes President and Chief Executive Officer -- October 1989 ACE is authorised for listing and begins trading on the New York Stock Exchange with the ticker symbol ACL -- March 1993 Starts product diversification the purchase of CODA -- November 1993 Product line diversification continues with satellite coverage -- February 1994 Brian Duperreault is named third Chairman, President and Chief Executive Officer -- October 1994 Adds excess property and aviation product liability lines -- March & April 1995 Purchase of 51 percent of Methuen, a Lloyd's of London managing agent -- March 1996 Purchase of Tempest Reinsurance ($641.7 million stock) a leading Bermuda-based catastrophe reinsurance company -- July 1996 Purchase of Ockham Worldwide Holdings Plc., a Lloyd's of London underwriter and the balance of Methuen -- November 1996 Formation of Sovereign Risk, a joint venture with X.L. Insurance Co. Ltd. to provide political risk coverage -- March 1997 Opens up Dublin office, formation of ACE European Markets (formerly ACE Insurance Co. Europe Ltd) to underwrite all classes of non-life insurance in the European Union -- September 1997 Purchase of Westchester Specialty Group ($338 million), holding company ACE USA formed -- January 1998 Formation of ACE Capital Re in joint venture with US-based Capital Re -- March, 1998 Purchase of Bermuda-based CAT Ltd. ($711 million) -- April, 1998 Acquires majority of stock in Creditor Resources Canada Ltd. in British Columbia -- June, 1998 Purchase of Tarquin Ltd., a Lloyd's of London underwriter ($500 million). This means ACE manages 9.3 percent of the total underwriting capacity at Lloyds -- July, 1998 Airline Risk Consortium -- formed with Exel Ltd. and Overseas Partners Re Ltd.

-- September 1998 Alliance with Blackthorn Reinsurance Services, Inc. in US -- October 1998 ACE purchases for $3.45 billion in cash of US-based Cigna Corp. international and domestic property and casualty insurance business. The acquired business generated approximately $3 billion in net premiums written in 1998 -- July 1999 ACE acquires Capital Re Corporation (now called ACE financial services) after a long battle for ownership of the company with rivals XL Capital -- December 1999 The New York Times names ACE and XL Capital in a story about a so-called Bermuda tax-loophole which is being looked at by Congress causing ripples across the Bermuda insurance industry -- March 2000 ACE Bermuda Insurance Ltd announce strategic partnership with London-based global risk manager Willis to form a protected cell company in Guernsey -- May 2000 ACE INA is named in connection with `slave insurance policies' sold in the 18th and 19th century but promises to co-operate with authorities -- October 2000 ACE Equity tops $5 billion -- November 2000 The way we were: Far top is the former ACE logo, while immediately below it is the old ACE building.

John Cox Chris Marshall Donna-Mae Hindes Brian Dupereault