ACE USA Announces Appointments in ACE Select Markets' Recreational Vehicle Unit; Veteran RV Insurance Professionals Pam Simon and Barbara Martin to Lead Unit

PHILADELPHIA--July 29, 2004--ACE USA, the U.S.-based retail operations of The ACE Group of Companies, today announced two key appointments in ACE Select Markets' Recreational Vehicle unit. Pam Simon has been named Assistant Vice President, responsible for developing product strategy and identifying new distribution channels for ACE Select Markets' suite of recreational vehicle insurance products. Joining her is Barbara Martin as Assistant Product Line Manager, responsible for sales, agent relations, licensing and underwriting. Ms. Simon and Ms. Martin are based in Tampa, Fla.

"Pam and Barbara both have extensive experience in the recreational vehicle insurance arena, a key area of focus for ACE Select Markets," said Brian Duffy, Senior Vice President, ACE Select Markets. "Pam has worked with ACE's recreational vehicle insurance product line since its inception and is uniquely qualified to lead this area. Barbara understands the specialized needs of RV owners through her experience at one of the country's top recreational vehicle dealers. Their combined background and knowledge will help us better serve our clients and contribute to our continued growth in the RV insurance arena."

Ms. Simon joined ACE in 2001 and has held several positions within ACE Select Markets' Recreational Vehicle unit, including Product Manager. She helped launch ACE's initial recreational vehicle insurance program, including responsibilities for licensing, sales, marketing, training, contract negotiation and account management in the recreational vehicle unit. Prior to joining ACE, she held marketing, account management and underwriting positions with several other insurance companies. Ms. Simon earned the Chartered Property Casualty Underwriter (CPCU) professional designation and is a licensed Florida general lines agent. She holds a bachelor's degree in business administration and computer science from Mercer University in Macon, Ga.

Ms. Martin most recently served as Insurance Manager for Lazydays RV Supercenter, the largest recreational vehicle dealership in the United States, where she was responsible for all aspects of the dealership's in-house insurance agency. In this capacity, Ms. Martin oversaw sales, licensing, marketing, administration and the agency's relationships with insurance providers. Prior to joining Lazydays in 2001, she was a senior account agent at Allstate Insurance Company, focusing on consumer insurance products. Ms. Martin has been a licensed Florida agent for more than 20 years. She also holds an associates degree in criminal justice from Hillsborough Community College and is a past member of the Hispanic Business Women's Association.

ACE Select Markets, a division of ACE USA, focuses on the underwriting and marketing of specialty insurance products targeted towards specific insurance buyers, affinity groups, small businesses and niche industries. Products and services are offered through a network of specialty agents as well as unique distribution channels and partners. Products and services include coverage for recreational vehicles, collector automobiles, motorcycles, recreational boats and yachts, the ACE Disaster Mortgage Protection(SM) Policy, and credit card enhancement programs. In addition, ACE Select Markets distributes commercial products through NewMarkets Insurance Agency, a wholly-owned agency. Products and programs include professional liability coverage, environmental, workers compensation, specialized weather products and captive management for affinity groups.

ACE USA is the U.S.-based retail operating division of The ACE Group of Companies, headed by ACE Limited , and is rated A (Excellent) by A.M. Best Company and A+ (Strong) by Standard & Poor's. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.