As a result, Hong Kong is still 9.5), with
most to least expensive cities ranked respectively. These Chinese cities have
also dropped in their rankings .ang@mercer.

Business Editors

HAMILTON, Bermuda----The ACE Tempest
Re Group, which oversees the reinsurance operations within the ACE
Group of Companies, today announced the appointment of Ari Lindner to
the position of President of ACE Tempest Life Reinsurance Ltd. Lindner's appointment is subject to approval
from the Bermuda Department of Labour and Immigration.

people listing

8), as the Japanese
Yen strengthens in relation to the US dollar.4). In relation to New York, Hong Kong's index
percentage has not deviated.
Chinese cities, when compared to New York, are significantly cheaper to
live in than they were last year. On another note, the cost-of-living gap between Japan and China has
widened , making it significantly more costly to live in Japan now for someone
moving there from China.
In relation to New York, the costs of living in Hanoi (84.mercerHR. The information is used by governments and major
companies to protect the purchasing power of their employees when transferred
abroad .bonic@mercer.com

living society

Individual reports are produced for each city surveyed. ("ACE
Tempest Life Re").

people sites

Mercer Human Resource Consulting - Worldwide Cost of Living Survey 2005 - Asia Rankings

Tokyo is the
most expensive city to live in (134.
Likewise, the Indian Rupee has also gained strength against the US dollar.
Within India, it is slightly more expensive to live in Mumbai and New Delhi
now than Chennai and Bangalore.

Contacts:

Ilya Bonic
Head of Global Information Services, Asia Pacific
Tel: +65-6327-3409
Email: Ilya.
Lindner holds a bachelor of science degree in Economics from The
Wharton School.

abroad pertaining

4), Shenzhen (81. Since Renminbi is pegged to the US dollar,
depreciation in US currency has severely affected the ranking of Chinese
cities.8) have remained fairly stable. Conversely, Singapore has moved up twelve positions to 34th place.

Notes to Editors:
The figures for Mercer's cost of living comparisons are based on a survey
conducted in March 2005.hp.
Reporting to David Furby, President and Chief Executive Officer of
ACE Tempest Re Group, Mr. Lindner is responsible for the day-to-day
management of ACE Tempest Life Re, the ACE Group's life and annuity
reinsurance operation. Furby
commented . Mr.

For the listing of sites pertaining to expatriate life for Irish living abroad.

irish living

Osaka moves up from fourth to second position (121.5% costlier to
live than New York, albeit dropping to ninth place . In
reference to the 25 Asian cities ranked in this survey, Manila is ranked as
the least expensive place to live in, with an index of 49., which lists its stock (ticker symbol: MMC) on the New York,
Chicago, Pacific, and London stock exchanges.

Ari Lindner Appointed President of ACE Tempest Life Re

Lindner served as Senior Vice
President and Chief Life Officer for ACE Tempest Life Re.acelimited .

people listing

-- Tokyo and Osaka are the most expensive cities in Asia and worldwide
-- Manila is the least expensive city in Asia
-- Chinese cities are significantly cheaper to live in compared to last
year

SINGAPORE, June 21 /Xinhua-PRNewswire/ -- Of the 6 continents represented
in this survey, Asia and Europe dominate the top ten rankings.8 making it more
than two and a half times cheaper to reside in than in Tokyo.
"Many companies are responding to the exchange rate changes by expressing
expatriate pay in two currencies, with local costs expressed in local currency
and home housing and savings elements in home currency," explained Ilya Bonic,
Head of Global Information Services, Asia Pacific. The
survey is used to assist multinational organizations assess compensation
stipends for their expatriate workers when they relocate across regions. The 2005 comparisons are based on a similar survey
conducted in March 2004. He joined
the company in August 2000 from AXA Re Life Insurance Company where he
served as Vice President in the Reinsurance Solutions division.

society abroad

7), thus maintaining its ranking from
2004. Taipei has risen in the
ranking due to the appreciation of Taiwanese dollar versus the US dollar.3), Guangzhou (80.6), and Tianjin (62.com

"Ari has clearly demonstrated a capability to profitably
grow the company's life reinsurance portfolio and I have every
confidence in his ability to lead ACE Tempest Life Re as it
establishes itself in the traditional life reinsurance market.

pertaining expatriate

Furthermore, Seoul rises two
places to fifth position (115.9) and Ho Chi
Minh City (83.
Index percentages are used to compare any combination of cities worldwide and
to determine an important part of the expatriate compensation package. The choice of cities surveyed is based on the demand for
corresponding data from companies and governmental organizations. The company is a wholly owned subsidiary of Marsh + McLennan
Companies , Inc. The Bermuda-based reinsurer focuses on niche
markets, especially variable annuity death and living benefit
guarantees, and recently expanded its product offering to include more
traditional forms of mortality risk reinsurance."
In his previous position Mr. Headed by ACE Limited (NYSE:ACE ), a
component of the Standard + Poor's 500 stock index, the ACE Group is a
global leader in insurance and reinsurance serving a diverse group of
clients. Additional
information can be found at: http: //www.

irish society

These cities consist of Beijing (95.
New York is the base city for this ranking, with an index of 100 and a
ranking of thirteen. For further
information or to purchase copies of the city reports, visit
http://www.com/costofliving .
"I am delighted to appoint Ari to this position ," Mr.
The ACE Tempest Re Group oversees the reinsurance operations
within the ACE Group of Companies .

living pertaining

6),
Shanghai (90.
"The greater availability of Western goods in the main Chinese cities is
also resulting in a lowering of expatriate costs," added Ilya Bonic. The depreciation of the Dong
against the US dollar has caused a slight drop in the cost of living in
Vietnam.
It is important to note that this data is based on the survey of about 200
"internationally-branded" goods and services that expatriates consume. The ACE Group conducts its business on a worldwide basis with
operating subsidiaries in approximately 50 countries.

pertaining life

This is due to the Singapore Dollar appreciating against the US dollar. It is also interesting to note that there
have not been any major price fluctuations in India and other cities in the
region, notwithstanding the Asian Tsunami.
Mercer Human Resource Consulting is the global leader for trusted HR and
related financial advice, products, and services with more than 14,000
employees, serving clients in 145 cities and 41 countries and territories
worldwide .com

Jaquilin Ang / Joy Foo
(Press Office)
Tel: +65-6327-3420 / +65-6327 -3422
Email: Jaquilin. Mr. He is a Fellow of the Society of Actuaries and a
Member of the American Academy of Actuaries.

expatriates expatriate

---

- - kjjkjk

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