XL Capital Ltd Declares Dividend on Fixed/Floating Series E Perpetual Non-Cumulative Preference Ordinary Shares

HAMILTON, BERMUDA - February 22, 2008

HAMILTON, BERMUDA – February 22, 2008 – XL Capital Ltd (the “Company”) (NYSE: XL) announced that its Board of Directors today declared a semi-annual dividend of $32.50 per share on the Company’s Fixed/Floating Series E Perpetual Non- Cumulative Preference Shares (the “Shares”). The dividend will be paid on April 15, 2008, to all shareholders of record as of April 14, 2008. The aggregate amount of the dividends payable on the Shares is $32,500,000.XL Capital Ltd, through its operating subsidiaries, is a leading provider of global insurance and reinsurance coverages to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis.