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ACE Limited Announces Resignation of Dennis Reding
(NYSE:ACE BSX:ACL.BH) today announced that Dennis Reding, President of ACE INA Holdings Inc. ("ACE INA") and President and Chief Executive Officer of
ACE USA, has resigned from ACE, effective immediately, to become the Chief Executive of another company. The four business group presidents at ACE USA who reported to Mr. Reding will now report directly to the Chairman of ACE INA, Dominic Frederico.
Mr. Reding joined ACE in January 1998 when ACE acquired Westchester Specialty Group, Inc. in Atlanta, which was then renamed ACE USA. He was involved with the ACE INA acquisition from the
beginning, relocating to Philadelphia in 1999, where he continued tooversee ACE's U.S. property and casualty operations.
Brian Duperreault, Chairman and Chief Executive Officer of ACE Limited, stated: "Dennis has done a terrific job for us. ACE USA has
been successfully reorganized and is well positioned for today's insurance market. We will miss him but we understand and respect his
decision."
Dominic Frederico, President and Chief Operating Officer of ACE Limited, said: "With Dennis' help, we have built an incredible team at
ACE INA. While we will surely miss his presence and motivational style, ACE INA is stronger than ever and ready to take on the challenges ahead."
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: http://www.acelimited.com.