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HAMILTON, Bermuda, May 10, 2002 -- XL Capital Ltd ("XL" or "the Company") (NYSE: XL) announced today that its Board of Directors declared a quarterly dividend of $0.47 per share payable on the Company's Ordinary Shares. The dividend will be payable on June 11, 2002 to shareholders of record on May 28, 2002.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.