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EXEL LIMITED CONCLUDES OPTION PURCHASE OFFER

 HAMILTON, Bermuda, Jan. 19 /PRNewswire/ -- EXEL Limited (NYSE: XL) announced today that it had concluded its offer to purchase all remaining unexercised non-employee stock options for the company's ordinary shares.
 The option purchase offer, which expired today, was made to the remaining 10 holders of unexercised options for 2,260,000 ordinary shares and was accepted by 8 holders of unexercised options for 1,735,000 shares. The options were purchased by EXEL for a total of $61.0 million. All options purchased under this offer have been canceled.
 Following this action, EXEL Limited has 54,733,494 shares and 1,043,118 options outstanding, including 518,118 employee options.
 EXEL Limited, through its wholly owned subsidiaries, X.L. Insurance Company, Ltd. and X.L. Europe Insurance, provides general liability, directors and officers liability and professional liability coverage to industrial, commercial and other enterprises, directors and officers of such enterprises and professional service firms on a worldwide basis.
 -0- 1/19/93
 /CONTACT: Gavin R. Arton of EXEL Limited, 809-292-8515/
 (XL)


CO: EXEL Limited ST: IN: INS SU:

TS -- NY087 -- 6535 01/19/93 16:17 EST
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Publication:PR Newswire
Date:Jan 19, 1993
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