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ACE Declares Quarterly Dividend

HAMILTON, Bermuda, August 6, 1999 - The Board of Directors of ACE Limited (NYSE:ACL) today declared a quarterly dividend of 11 cents per ordinary share, payable on October 15, 1999 to shareholders of record at the close of business on September 30, 1999.

The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The company conducts its business on a global basis with direct operating subsidiaries in nearly 50 countries. Additional information can be found at: www.acelimited.com.