Release: Immediate

Contacts:
Susan Boyle / Jessica Riccardi
MWW Group (for ISO)
201-507-9500
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Mike Gannon (AIR)
617-267-6645
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ACE Tempest Reinsurance Ltd. First to Integrate AIR's Catastrophe Loss Modeling Technologyinto Its Underwriting Software with CATools

BOSTON, January 12, 2004 — ACE Tempest Reinsurance Ltd. (ACE Tempest Re) and AIR Worldwide Corporation(AIR) today announced the first implementation of an innovative toolset, CAToolsTM, which significantlyincreases the efficiency of the underwriting and risk management process through the seamless integrationof catastrophe modeling with the global reinsurer's underwriting and risk management systems.

Insurers and reinsurers have long been seeking a way to improve their workflow efficiency through such integration. ACE Tempest Re is among the first in the industry to achieve this objective with the implementation of AIR's CATools. ACE Tempest Re's underwriters are now able to access AIR's catastrophe loss information directly, without leaving their proprietary Heuron underwriting system and no longer need to exchange significant data volumes with a separate modeling system.

"The risk assessment provided by the catastrophe models is a vital element of Tempest's catastrophemanagement process. The ability to run our analyses from Heuron directly against our exposure databaseswill ultimately have a significant impact on the speed with which we can service our clients," saidSean Ringsted, chief risk officer at ACE Global Reinsurance. "This pioneering integration of CAToolsinto our Heuron platform will save us significant time and resources and further improve our abilityto meet our clients' needs. It is a great testament both to the hard work of the ACE Tempest Re Heuronteam and AIR's willingness to understand and provide a product that met our business and technologyobjectives."

CATools is an application programming interface (API) offering insurers two options based on industrystandard protocols. The first is a component-based API that is compatible with any Windows-basedunderwriting system. Another option is a web services API that connects with any underwriting platformvia the Internet or an intranet.

The component system gives users access to AIR's full suite of catastrophe modeling capabilities including geocoding, hazard analysis, full probabilistic loss analysis, and its CLASIC/2TM database to store exposure information and analysis results.

"AIR's mission is to develop solutions that fit the evolving needs of our clients. We believethe future for catastrophe modeling infrastructure is the full integration with insurers' underwritingand policy rating systems. CATools enables insurers to spend less time on data processing and moretime on what matters, namely, analysis of the results and decision making," said Vivek Basrur, executivevice president at AIR.

AIR will continue to offer insurers and reinsurers access to its catastrophe modeling technologythrough intuitively designed and easy-to-use interactive applications, including CATStationTM,CLASIC/2TM, CATRADER® and AIRProfiler®.Current users of these applications have the option to integrate AIR technology with their own underwritingsolutions using CATools.

About AIR Worldwide Corporation
AIR Worldwide Corporation is a leading risk modeling company helping clients manage the financialimpact of catastrophes and weather. Utilizing the latest science and technology, AIR models naturalcatastrophes in more than 35 countries and the risk from terrorism in the United States. Other areasof expertise include site-specific seismic engineering analysis, catastrophe bonds and property replacementcost valuation. Founded in 1987, AIR offers its insurance, reinsurance, corporate and governmentclients a complete line of risk modeling software and consulting services that produce consistentand reliable results. Headquartered in Boston, AIR has additional offices in North America, Europeand Asia. For more information, please visit www.air-worldwide.com.

About ACE Tempest Re
ACE Tempest Re, a leading Bermuda-based catastrophe reinsurance company, is a subsidiary of ACE Limited(NYSE:ACE), the holding company of the ACE Group of Companies. The ACE Group of Companies providesinsurance and reinsurance for a diverse group of clients. The ACE Group conducts its business ona global basis with operating subsidiaries in nearly 50 countries. Additional information can befound at www.acelimited.com.

About ISO
ISO is a leading source of information, products and services related to property and liability risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides data, analytical and decision-support products; consulting; data processing; and technical, statistical and actuarial services. ISO field services include on-site rating and underwriting services and the evaluation of community loss-mitigation efforts. ISO's products help customers with sales and prospecting, underwriting, rating and quoting, customer management, policy administration, product development, claims administration and fraud detection. ISO's AIR Worldwide subsidiary provides technologies to assess and manage natural and man-made extreme-event risk. Through its ISO Claims Services, Inc. (iiX unit) and Intellicorp subsidiaries, ISO provides motor vehicle reports and criminal-records information and through its AscendantOne unit delivers rating, quoting and policy-administration solutions. In the United States and around the world, ISO serves insurers, reinsurers, agents, brokers, self-insureds, risk managers, insurance regulators and other government agencies.