XL Capital Ltd Declares Quarterly Dividend of $0.38 Per Ordinary Share and Declares Dividends On Series A and Series B Preference Ordinary Shares

HAMILTON, BERMUDA - October 27, 2006

HAMILTON, BERMUDA - October 27, 2006 - XL Capital Ltd ("XL" or the "Company") (NYSE: XL) announced today that its Board of Directors declared a quarterly dividend on October 27, 2006, of $0.38 per Ordinary Share payable on the Company's Ordinary Shares. The dividend will be payable on December 29, 2006, to Ordinary Shareholders of record on December 11, 2006.The Board of Directors also resolved on October 27, 2006, to pay a dividend of $0.50 per share on January 2, 2007, to all Series A Preference Ordinary Shareholders of record on December 29, 2006. The aggregate amount of the dividends payable on the Series A Preference Ordinary Shares is $4,600,000.00.The Board of Directors further resolved on October 27, 2006, to pay a dividend of $0.4765625 on January 2, 2007, to all Series B Preference Ordinary Shareholders of record on December 29, 2006. The aggregate amount of the dividends payable on the Series B Preference Ordinary Shares is $5,480,468.75.XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products and services to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis. As of September 30, 2006, XL Capital Group Ltd had consolidated assets of approximately $59.8 billion and consolidated shareholders' equity of $9.5 billion. More information about XL Capital Ltd is available at www.xlgroup.com.