XL Insurance Company Limited announces establishment of branch office in Poland

London, England - June 29, 2004

London, England - June 29, 2004 - XL Insurance Company Limited ("XLICL"), part of XL Capital Ltd (NYSE:XL) ("XL"), today announced that it has received permission from KNUiFE, the Polish Insurance supervisory body, to carry out insurance activities in Poland. Following formal registration by the National Court of Poland the Polish operation will be licensed as a Branch of XLICL.The Polish Branch, located in Warsaw, will offer coverage and services to the Polish operations of multinational clients. It will be led by XLICL Country Manager Mariusz Ejsmont, a Polish national with long term experience in the insurance industry.Mr. Clive Tobin, Chief Executive of Insurance Operations for XL, said: "With Poland's accession to the EU, this is certainly an exciting and historic moment for us to be entering the market. The new branch reflects the continued development of our European insurance network which now includes offices in Austria, France, Germany, Switzerland, Belgium, Czech Republic, Denmark, UK, Italy, the Netherlands, Ireland, Portugal, Spain, Sweden, and Hungary."The ultimate parent company of XL Insurance Company Limited is XL Capital Ltd, 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. As of March 31, 2004, XL Capital Ltd had consolidated assets of approximately $44.2 billion and consolidated shareholders' equity of approximately $7.4 billion. More information about XL Capital Ltd is available at www.xlgroup.com.