XL Capital Ltd to announce fourth quarter results on Tuesday, February 11, 2003

HAMILTON, BERMUDA - January 21, 2003

Hamilton, Bermuda (January 21, 2003): -- XL Capital Ltd (NYSE: XL) ("XL" or the "Company") intends to release its fourth quarter results after the close of regular stock market hours on Tuesday, February 11, 2003. The Company will hold its quarterly conference call for investors and analysts at 9:00 a.m. Eastern Standard Time on Wednesday, February 12, 2003.A live online webcast of this call will be available at www.xlgroup.com and will be archived on XL's website from approximately 1:00 p.m. Eastern Standard Time on February 12, through midnight Eastern Standard Time on March 12, 2003. A telephone replay of the conference call will be available beginning at 1:00 p.m. Eastern Standard Time on February 12, until 8:00 p.m. Eastern Standard Time on February 20, 2003 by dialing (201) 612-7415 (account number: 7716 and conference I.D. number: 55201).XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products to industrial, commercial, and professional service firms, insurance companies, and other enterprises on a worldwide basis. As of September 30, 2002, XL Capital Ltd had consolidated assets of approximately $34.1 billion and consolidated shareholders' equity of approximately $5.9 billion. More information about XL is available at www.xlgroup.com.