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XL Capital Ltd Announces Launch Of Global Leadership Training And Development Initiative

Hamilton, Bermuda - October 6, 2003 - XL Capital Ltd ("XL" or "the Company") today announced the launching of a global leadership training and development initiative for employees. The first of three programs which make up the initiative will begin tomorrow at XL's headquarters in Bermuda.
Two university professors will assist XL with the pilot program. They are Professor Richard L. Bennett, an Associate Professor of Risk Management at St. John's University School of Risk Management, Insurance, and Actuarial Science at the Peter J. Tobin College of Business, and Laurie Bilik, President of Global Human Resources Inc., a management consulting firm based in New York City. Prof. Bilik is also an adjunct professor for the Master of Science program at Manhattanville College in Purchase, New York, and at Pace University where she teaches a foundation MBA course in managerial skills and organizational behavior.
Speaking about the new initiative, XL's President & CEO Brian M. O'Hara said: "XL has offered training and development courses in the past, but this has a wider reaching scope. It is an exciting training and development program for the XL Capital Group of companies and its employees, in which every member of the Executive Management Board will participate. As we have grown from less than 200 employees five years ago to a global organization of approximately 3,200 employees, so have the demands on management. This measure will prepare our people to successfully meet the global demands of our company and the industry today and well into the future."
XL's Global Head of Human Resources Anthony Beale said: "These programs underscore XL's commitment to developing leaders within the company and enhancing performance throughout all areas of the organization. Participation in the programs will allow many of our staff from around the world to come together for training and development, building a common culture, based on a common set of values and behaviors that will forge a fully-integrated global "XL team".
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 of June 30, 2003, XL Capital Ltd had consolidated assets of approximately $39.2 billion and consolidated shareholders' equity of approximately $7.6 billion. More information about XL Capital Ltd is available at www.xlgroup.com.

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