McQuade Appointed to XL Capital Board of Directors

July 27, 2004

Bermuda-based XL Capital Ltd announced that it appointed Eugene M. McQuade to its Board of Directors.

McQuade was formerly president of Bank of America and prior to that was president and chief operating officer of FleetBoston Financial. He is a certified public accountant, a member of the American Institute of CPAs and the Financial Services Roundtable.

XL Chairman, Michael P. Esposito, Jr., said: “We welcome the addition of Gene McQuade to our Board. I believe we will greatly benefit from his business and financial experience as we continue to build value for XL’s shareholders.”

Brian M. O’Hara, XL president and chief executive officer, said: “Gene McQuade is joining us at a time when we are continuing to add to our capabilities in financially-oriented businesses and products. His knowledge and vast experience of the financial and capital markets will be immensely valuable in helping us guide the Company through this phase of our development.”

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