XL Capital Ltd to present at the Salomon Smith Barney Conference

HAMILTON, BERMUDA - January 21, 2003

HAMILTON, BERMUDA (January 21, 2003) - XL Capital Ltd (NYSE: XL) announced today that Mr. Brian O'Hara, President and Chief Executive Officer of XL Capital Group Ltd, is scheduled to participate in the Salomon Smith Barney 6th Annual Financial Services Conference in New York on January 28, 2003 at 10:45 a.m. (EST).A live webcast of Mr. O'Hara's presentation from 10:45 a.m. to 11:30 a.m. EST may be accessed by logging into http://www.veracast.com/ssb/2003/financial- services/71104292.cfm. A replay of the presentation will be archived on the Investor Information section of www.xlgroup.com following the live broadcast of his presentation and archived for approximately 30 days following the presentation.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.