News Releases

NEW YORK--(BUSINESS WIRE)--March 21, 2005--The ACE Group of Companies announced today that it has donated approximately $1 million to two New York-area non-profit organizations as part of ACE's five-year commitment to aid individuals and families affected by the September 11 terrorist attacks in the United States. The organizations, September Space-World Cares Center Inc. and the New York office of World Vision, provide assistance to individuals and families in need, including those affected by the tragedy. 
 

"While great progress has been made in the physical rebuilding process after 9/11, many individuals and families continue to cope with emotional and financial challenges," said Evan Greenberg, President & Chief Executive Officer of ACE Limited. "World Vision and September Space are working to address these issues while also promoting peace of mind through disaster preparedness initiatives. We hope our support will continue these critical healing processes and empower people to move forward with confidence."

September Space-World Cares Center Inc., a New York City community center established after the attacks, received $526,000 from ACE to support its PERCS (Plan, Educate, Respond, Collaborate, Support) disaster preparedness program. The PERCS program prepares volunteers for the emotional impact of disaster response and also provides support and services to volunteers during and after a disaster. More than 100,000 volunteers responded to the 9/11 attacks, many of whom were unprepared for the devastation and continue to face mental health issues. Through the PERCS program, September Space seeks to provide training and support for volunteers, rescue workers and survivors and minimize the traumatic emotional impact of future disasters on the volunteer community.

World Vision, a global relief and development organization, received $461,000 from ACE to support the second phase of its Storehouse project in New York City. Last year, ACE awarded $500,000 to World Vision to establish The Storehouse, a facility in the Bronx that distributes clothing, personal care items and school supplies to children and families in need. The new grant will provide continued support for The Storehouse, including the expansion of the teachers' resource center and the emergency response program. In addition, ACE funds will establish a building materials program that will provide local community groups with resources to repair, renovate and build affordable housing and community facilities in New York City. The building materials program will benefit 60 community partners serving approximately 6,000 families, including some who continue to face economic hardships resulting from the September 11 tragedy, such as loss of a parent or spouse, unemployment and/or loss of income. More than 90,000 schoolchildren and 12,000 families are expected to benefit from Storehouse programs in fiscal 2005.

ACE announced in September 2001 that it would provide a total of $5 million over five years to organizations aiding individuals and families affected by the terrorist attacks in New York, Washington, D.C. and Pennsylvania. This is the fourth of five $1 million donations that ACE has made since 2001. Previous recipients of the fund were the American Red Cross (2001); the Greater New York and New Jersey Divisions of The Salvation Army (2002); and World Vision and The Coalition of Voluntary Mental Health Agencies Inc. (January 2004). The ACE Group of Companies has more than 4,000 employees in offices throughout the United States, including New York.

The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), a component of the Standard & Poor's 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at www.acelimited.com.

September Space-World Cares Center, a community center with permanent facilities in mid-town Manhattan, serves the social support and educational needs of the volunteer community. Central to its programs is the care of the volunteer before, during and after a disaster. Through its "PERCS" pre-disaster training modules, September Space helps ensure safe and effective disaster volunteering by building volunteers' resiliency skills. Beyond the immediate disaster response, September Space provides respite and a safe haven for volunteers to debrief and participate in stress reduction workshops enabling volunteers to bridge the divide between their disaster experience and normal routines. Additional information is available at www.septemberspace.org.

World Vision is a Christian relief and development organization dedicated to helping children and their communities worldwide reach their full potential by tackling the causes of poverty. World Vision serves the world's poor - regardless of a person's religion, race, ethnicity, or gender. For more information, visitwww.worldvision.org.