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Ace Limited Declares Quaterly Dividend

HAMILTON, Bermuda--(BUSINESS WIRE)--Aug. 7, 2003--The Board of

Directors of ACE Limited (NYSE:ACE) today declared a quarterly

dividend of 19 cents per ordinary share, payable on October 14, 2003

to shareholders of record at the close of business on September 30,

2003.

The Board of Directors also declared a dividend of $4.9292 per

Series C 7.80% Cumulative Redeemable Preferred Share, payable on

September 1, 2003 to shareholders of record at the close of business

on August 31, 2003. This translates to 49.292 cents per Depository

Share.

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.

CONTACT: ACE Limited, Hamilton

Investor Contact:

Helen M. Wilson, 441-299-9283

or

Media Contact:

Wendy Davis Johnson, 441-299-9347