HANOI, VIETNAM - March 10, 2004 - ACE INA today announced that it donated VND1.2 billion (US$75,000) to the Vietnam Veteran's Memorial Fund (VVMF), which helped to fund a landmine awareness program in Quang Tri Province as part of Project RENEWT. Two groundbreaking surveys were recently conducted as a result of this program and mark the first officially approved efforts in Vietnam to determine the extent and consequences of landmines and unexploded ordnance-old bombs, grenades, mortars and other explosive devices-remaining after the war. The resulting survey reports document the thousands of Vietnamese children and adults who have been killed or injured since the end of the war by this deadly debris.
Project RENEW, sponsored by the VVMF, is an ongoing global effort to reduce the terrible impact of this problem through mine risk education at every level. It provides assistance to victims who are already disabled and their families, and offers better management and coordination of landmine awareness programs, which resulted from analysis of the information gathered from the surveys.
"I want to thank ACE for its generosity and humanitarian spirit," said Chuck Searcy, Vietnam Representative of the VVME. "The financial support ACE provided is helping to prevent possible death and injuries for many innocent people. ACE is helping to support the recovery of the people of Vietnam after the war and contributing to a better future for the entire country,"
To date, the work completed through Project RENEW has been considered successful, surpassing the goals set out in the original plan and achieving impressive results for the deserving beneficiaries who live in the villages and rural areas of Quang Tri Province.
"We are very pleased to have had the opportunity to work with the staff of the Vietnam Veteran's Memorial Fund on this historic project in Quang Tri," said ACE Limited Chairman and Chief Executive Officer Brian Duperreault. "Good corporate citizenship is an integral part of the culture at ACE. Our business plan in Vietnam is not only economic in nature. We want to improve the lives of the country's people through both economic and humanitarian investment.
ACE INA International Holdings, Ltd. has maintained a representative office in Vietnam since 1996. ACE formally resubmitted an application to establish and operate a life insurance company in Vietnam in August 2002 after originally filing for a composite license in 1998. Over the past eight years, ACE has undertaken numerous activities in support of Vietnam, its economy, its people, including providing technical assistance for Vietnam's growing insurance market and humanitarian projects offered for the Vietnamese people. ACE has provided key support for the passage of the Bilateral Trade Agreement in the U.S. Congress and continues to lend its considerable support to strengthen relations between the two countries, including working closely with the U.S. Government in favor of Vietnam's accession to the World Trade Organization (WTO). ACE INA, based in Philadelphia, Pennsylvania, is the largest component of the ACE Group of Companies, one of the world's largest and most innovative providers of insurance, reinsurance and financial services.
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ACE INA Holdings Inc., whose ultimate parent is ACE Limited (NYSE: ACE), provides insurance and reinsurance products and services through operating subsidiaries for a diverse group of clients around the world. Additional information can be found at www.ace-ina.com.