Linda S. Kobrin joins XLCA as a Managing Director in the ABS group, focusing on mortgages

New York, New York - June 08, 2004

New York, June 8, 2004 - XL Capital Group Assurance Inc. (XLCA) announced today that Linda S. Kobrin has joined the company as a Managing Director in the Asset- Backed Structured Finance group, focusing on mortgages. In this newly created position, Ms. Kobrin reports to Cassie Lau, an XLCA Senior Managing Director and co-head of the ABS group.Ms. Kobrin has 15 years of financial services experience, 12 at Financial Security Assurance Inc., where she was Managing Director, Insured Portfolio Management, responsible for the performance of a $20 billion portfolio of more than 300, mainly non-prime mortgage-backed securities (MBS) transactions. Prior to FSA, she worked in the Public Finance Department of The First Boston Corporation.Ms. Lau said, "XLCA is strategically committed to the mortgage sector and we are delighted that Linda Kobrin has joined us to help us expand our efforts in this market. Issuers, bankers, and investors alike look to XLCA for substantial capacity, expertise, and unequaled service, and with Linda's help we look forward to continuing to meet our mortgage clients' needs."XLCA, rated triple-A by Moody's Investors Service, Standard & Poor's Ratings Services, and Fitch Ratings, specializes in consumer and commercial asset securitization; structured investment products; U.S. public finance; and structured risk, which comprises power & utilities, global infrastructure, future flow securitization, deposit insurance, and whole business securitization. XLCA is an indirect, wholly owned subsidiary of XL Capital Ltd (NYSE: XL), which, 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.