XL Capital Ltd, 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 at September 30, 2001, XL had consolidated assets of approximately $25.7 billion and consolidated shareholders' equity of approximately $4.8 billion.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the convertible debentures or any other securities, nor will there be any sale of the convertible debentures or any other securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The convertible debentures were issued in reliance on the exemption from the registration requirements provided by Rule 144A. Until the registration statement covering the convertible debentures and the underlying ordinary shares has been declared effective under the Securities Act of 1933, as amended (the "Securities Act"), the securities may not be offered or sold in the United States absent an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.