XL Capital declares quarterly dividend of $0.47 per share

HAMILTON, BERMUDA - November 13, 2002

HAMILTON, BERMUDA November 20, 2002 -- XL Capital Ltd (“XL” or “the Company”) (NYSE: XL) announced that its Board of Directors declared a quarterly dividend on November 15, 2002 of $0.47 per share payable on the Company’s Ordinary Shares. The dividend will be payable on 16 December, 2002 to shareholders of record on December 2, 2002.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.