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ACE Limited Declares Quarterly Dividend

HAMILTON, Bermuda: Feb. 26, 2004 - The Board of Directors of ACE Limited (NYSE:ACE) today declared a quarterly dividend of 19 cents per ordinary share, payable on April 14, 2004 to

shareholders of record at the close of business on March 31, 2004.

The Board of Directors also declared a dividend of $4.875 per Series C 7.80% Cumulative Redeemable Preferred Share, payable on March

1, 2004 to shareholders of record at the close of business on February 29, 2004. This translates to 48.75 cents per Depositary Share.

The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. A component of the Standard & Poor's 500 stock index, The ACE Group conducts its business on a worldwide basis with operating subsidiaries in approximately 50 countries. Additional information can be found at:

http://www.acelimited.com.