public offering of $300 million of Feline Prides of ACE Ltd.

The offering will consist initially of income Prides which will be listed on the New York Stock Exchange under the symbol ACLPrI.

This issuance completes the replacement of the interim financing related to ACE Limited's July 1999 acquisition of ACE INA, formerly the domestic and international property casualty businesses of CIGNA Corporation. The net proceeds from this issuance, estimated at $290 million, will be used to repay commercial paper at ACE Limited.

Income Prides consists of one Cumulative Redeemable Preferred share, Series A of ACE Limited and a purchase contract under which the holder will be obligated to purchase by May 16, 2003 a number of ordinary shares of ACE Limited determined as set forth in the prospectus supplement relating to the offering.