XL Capital Acknowledges Subpoena from N.Y.

October 29, 2004

XL Capital Ltd (NYSE:XL) in Hamilton, Bermuda said that its subsidiary, X.L. America Inc., received a subpoena from the New York Attorney general Eliot Spitzer in connection with an ongoing, industry-wide investigation of insurance sales practices.

The company said it intends to cooperate fully with the investigation. The company also said it had already started ts own internal review of the issues raised in the Attorney General’s recently announced complaint against Marsh & McLennan.

XL Capital Ltd, through its operating subsidiaries, is a provider of insurance and reinsurance coverages and financial products and services to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis.

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