XL Capital Ltd Declares Quarterly Dividends

HAMILTON, BERMUDA - November 07, 2003

HAMILTON, Bermuda, Nov. 7 /PRNewswire-FirstCall/ -- XL Capital Ltd. (NYSE: XL) ("XL" or "the Company") announced that its Board of Directors today declared a quarterly dividend of $0.48 per share payable on the Company's Ordinary Shares. The dividend will be payable on December 31, 2003, to shareholders of record on December 8, 2003.The Board of Directors also resolved today to pay a dividend of $4,600,000.00 on December 31, 2003, to all Series A Preference Ordinary Shareholders of record as of December 30, 2003, being $0.50 per share.The Board of Directors further resolved to pay a dividend of $5,480,468.75 on December 31, 2003 to all Series B Preference Ordinary Shareholders of record as of December 30, 2003, being $0.4765625 per share.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.