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Chubb Announces Record Date for Remarketing of 4.00% Senior Notes due 2007

WARREN, New Jersey, July 28, 2005 — The Chubb Corporation (NYSE: CB) announced that on August 11, 2005 it expects to remarket its 4.00% Senior Notes due 2007 (CUSIP No. 171232AG6) originally issued as part of its 7.00% Equity Units (NYSE: CBPRA) (CUSIP No. 171232309). Holders of record on August 10, 2005 of the outstanding Senior Notes that are components of the Equity Units and holders of Senior Notes held separately from the Equity Units who elect to participate in a successful remarketing will receive the remaining proceeds, if any, from the remarketing, after deduction of the remarketing fee and, in the case of the holders of Equity Units, the purchase price of the portfolio of U.S. Treasury securities to be substituted for the Senior Notes as a component of the Equity Units.

This release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the Senior Notes in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or other jurisdiction. The remarketing will only be made pursuant to a prospectus supplement and prospectus to be filed with the Securities and Exchange Commission which, when finalized, may be obtained from the Remarketing Agents, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, care of Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 7th Floor, Brooklyn, New York, 11220, Attn: Prospectus Department, (718) 765-6732.

FORWARD-LOOKING INFORMATION

Certain statements in this release, and certain oral statements made by management from time to time, are “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). These forward-looking statements are made pursuant to the safe harbor provisions of the PSLRA and include estimates and assumptions related to economic, competitive, regulatory, judicial, legislative and other developments. These include statements relating to trends in, or representing management’s beliefs about, the Company’s future strategies, operations and financial results, as well as other statements that include words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “should,” “will,” or other similar expressions. Forward-looking statements are made based upon management’s current expectations and beliefs concerning trends and future developments and their potential effects on Chubb. These statements are not guarantees of future performance. Actual results may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties, which include, among others, those discussed or identified from time to time in our public filings with the Securities and Exchange Commission and those associated with:

• the availability of primary and reinsurance coverage, including the implications relating to terrorism legislation and regulation;
• global political conditions and the occurrence of terrorist attacks, including any nuclear, biological, chemical or radiological events;
• the effects of the outbreak or escalation of war or hostilities;
• premium pricing and profitability or growth estimates overall or by lines of business or geographic area, and related expectations with respect to the timing and terms of any required regulatory approvals;
• adverse changes in loss cost trends;
• The Company’s ability to retain existing business;
• The Company’s expectations with respect to cash flow projections and investment income and with respect to other income;
• the adequacy of loss reserves, including:
  • The Company’s expectations relating to reinsurance recoverables;
  • the effects of proposed asbestos liability legislation, including the impact of claims patterns arising from the possibility of legislation and those that may arise if legislation is not passed;
  • The Company’s estimates relating to ultimate asbestos liabilities;
  • the impact from the bankruptcy protection sought by various asbestos producers and other related businesses;
  • the willingness of parties, including us, to settle disputes;
  • developments in judicial decisions or regulatory or legislative actions relating to coverage and liability for asbestos, toxic waste and mold claims;
  • development of new theories of liability;
• the impact of economic factors on companies on whose behalf Chubb has issued surety bonds, and in particular, on those companies that have filed for bankruptcy or otherwise experienced deterioration in creditworthiness;
• the effects of disclosures by, and investigations of, public companies relating to possible accounting irregularities, practices in the financial services industry and other corporate governance issues, including:
  • the effects on the capital markets and the markets for directors and officers and errors and omissions insurance;
  • claims and litigation arising out of actual or alleged accounting or other corporate malfeasance by other companies;
  • claims and litigation arising out of practices in the financial services industry;
  • legislative or regulatory proposals or changes, including the changes in law and regulation implemented under the Sarbanes-Oxley Act of 2002;
• the effects of investigations into market practices in the U.S. property and casualty insurance industry and any legal or regulatory proceedings arising therefrom;
• the occurrence of significant weather-related or other natural or human-made disasters, particularly in locations where we have concentrations of risk;
• any downgrade in our claims-paying, financial strength or other credit ratings;
• the ability of The Company’s subsidiaries to pay it dividends;
• general economic conditions including:
  • changes in interest rates, market credit spreads and the performance of the financial markets, generally and as they relate to credit risks assumed by the Chubb Financial Solutions unit in particular;
  • the effects of inflation;
  • changes in domestic and foreign laws, regulations and taxes;
  • changes in competition and pricing environments;
  • regional or general changes in asset valuations;
  • the inability to reinsure certain risks economically;
  • changes in the litigation environment;
  • general market conditions; and
  • our ability to implement management’s strategic plans and initiatives.

Chubb assumes no obligation to update any forward-looking information set forth in this release, which speak as of the date hereof.