HAMILTON, Bermuda - December 30, 2002 - ACE Limited (NYSE: ACE) today announced that, as a part of their five-year commitment to aid the families of victims of the September 11 tragedy in the United States, the Company has chosen The Salvation Army to be the second recipient of one million dollars from a special fund established in the wake of the tragedy.
The fund, which is administered by charitable trusts operated by ACE Foundations in Bermuda and Philadelphia, provides one million dollars a year for a period of five years to organizations aiding families affected by the disasters in New York, Washington and Pennsylvania. Last year, ACE donated its first million-dollar contribution to the American Red Cross Disaster Relief Fund.
This year, the Greater New York and New Jersey Divisions of The Salvation Army, which have been closely involved in assisting families affected by the attacks on the World Trade Center, will be the recipients of funding.
"We're pleased to support The Salvation Army and its "9/11 Recovery Program" that focuses on providing a variety of intensive social services, mental health services and financial assistance to the affected families in New Jersey and New York," said ACE Limited Chairman and Chief Executive Officer Brian Duperreault. "We want to do everything we can to help families rebuild
their lives by ensuring that they receive adequate counseling and keeping economically displaced families in their homes."
The ACE Group of Companies has over four thousand employees in offices throughout the United States, including New York.
The Salvation Army provides food for the hungry, companionship to the elderly and ill, clothing and shelter to the homeless, opportunities for underprivileged children, relief for disaster victims, assistance for the disabled, and many more services.
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 operating subsidiaries in nearly 50 countries. Additional information can be found at www.acelimited.com.