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HAMILTON, BERMUDA - May 9, 2003 -- XL Capital Ltd ("XL" or "the Company") (NYSE: XL) announced that its Board of Directors declared a quarterly dividend on May 9, 2003 of $0.48 per share payable on the Company's Ordinary Shares. The dividend will be payable on June 30, 2003 to shareholders of record on June 9, 2003.XL Capital Ltd, through its 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.