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HAMILTON, BERMUDA - October 28, 2005 - XL Capital Ltd ("XL" or the "Company") (NYSE: XL) announced today that its Board of Directors declared a quarterly dividend on October 28, 2005, of $0.50 per Ordinary Share payable on the Company's Ordinary Shares. The dividend will be payable on December 30, 2005, to ordinary shareholders of record on December 8, 2005.The Board of Directors also resolved on October 28, 2005, to pay a dividend of $0.50 per share on January 3, 2006, to all Series A Preference Ordinary Shareholders of record as of December 30, 2005. 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 28, 2005, to pay a dividend of $0.4765625 on January 3, 2006, to all Series B Preference Ordinary Shareholders of record as of December 30, 2005. 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 June 30, 2005, XL Capital Ltd had consolidated assets of approximately $53.3 billion and consolidated shareholders' equity of approximately $8.4 billion. More information about XL Capital Ltd is available at www.xlgroup.com.