HAMILTON, Bermuda -- March 19, 2002 -- ACE Limited (NYSE: ACE) announced today that it has agreed to sell $500 million of 6.0% Senior Notes due 2007. The lead underwriters for the offering were Banc of America Securities LLC and J. P. Morgan Securities Inc.
The net proceeds from the sale of the senior notes will be used to repay outstanding debt and for general corporate purposes.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the senior notes or any other securities, nor will there be any sale of the senior notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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.
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