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Salomon Keeps 'Buy' on Ace Ltd.

Salomon Smith Barney reiterates buy on Ace Ltd. (ACE).

Analyst Ronald Frank says the company's global platform positions it well to exploit the broadcasting and commercial property/casualty cycle turn both here and abroad. He notes management offered many examples of dramatic market changes during its Bermuda Angle presentation, as well as a credible review of the company's post-disaster financial condition.

Frnak says the company has successfully diversified, both geographically and along product lines, through acquisitions over the last couple of years. He cut the $0.18 2001 EPS estimate to $0.08 and raised the $3.40 2002 EPS estimate to $4.10. He maintains his $50 target.

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