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XL Capital Increases Quarterly Dividend To $0.46 Per Share

Hamilton, Bermuda: 19 January 2001 -- XL Capital Ltd ("XL" or "the Company") (NYSE: XL, BSX: XL.BH) announced today that its Board of Directors declared a quarterly dividend of $0.46 per share payable on the Company's Ordinary Shares. The dividend will be payable on February 28th, 2001 to shareholders of record on February 15th, 2001. This represents an increase of $0.01 per share in the quarterly dividend paid on the Company's Ordinary Shares.

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.