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| | Program Division: News Room |
 | | ACE Limited (NYSE: ACE) today reported that net income for 2003 was a record $1.4 billion or $4.93 per share, compared with net income of $77 million or $0.19 per share for the prior year. |
 | | As previously disclosed on December 2, 2003, ACE Limited intends to pursue an initial public offering of its financial guaranty business (ACE expects to offer approximately 65% to 75% of its interest in AGC Holdings Limited). |
 | | Please refer to the ACE Financial Supplement December 31, 2003, which is posted on the Company's website, for more detailed information on individual segment performance, together with additional disclosure on reinsurance recoverable, loss reserves, financial guaranty portfolio, investment portfolio and capital structure. |
| www.aceprogramdivision.com /n_shownews.asp?ID=201 (879 words) |
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