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ACE Limited Sells 11 Million Ordinary Shares In Public Offering
(NYSE:ACL BSX: ACL.BH) today announced that it has agreed to sell in a public offering 11 million ordinary shares for total proceeds of $359.5 million. Banc of America Securities LLC acted as the sole underwriter in the offering. The proceeds from the offering initially will be
invested in investment-grade marketable securities which will be used to support ACE's guaranty of a subsidiary's trust preferred
securities. Upon repayment of these preferred securities, the proceeds will be used for general corporate purposes.
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.