(NYSE:ACL, BSX:ACL.BH) today announced that, subject to market conditions, it expects to price a public offering of up to $350 million of its
ordinary shares (exclusive of any ordinary shares to be issued upon exercise of the underwriter's over-allotment option) this afternoon.
Banc of America Securities LLC will act as the sole underwriter in the offering. The net proceeds from the sale of the ordinary shares will
be used for general corporate purposes, which may include the repayment or repurchase of outstanding debt or hybrid trust preferred
securities of one or more of ACE's subsidiaries.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the ordinary shares described herein nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful.
When available, copies of the prospectus may be obtained from Banc of America Securities LLC, 600 Montgomery Street, San Francisco, CA 94111 (415) 627-2000 or 9 West 57th Street, New York, NY 10019, (212) 583-8000.
The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at: www.acelimited.com.