HAMILTON, Bermuda, Oct. 10 /PRNewswire-FirstCall/ -- Security Capital Assurance Ltd (NYSE: SCA - News; "SCA" or the "Company") announced today that it intends to release its 2006 third quarter and first nine-month earnings after the close of regular stock market hours on Monday, October 23, 2006. Paul S. Giordano, SCA president and chief executive officer, and David P. Shea, executive vice president and SCA chief financial officer, will host an earnings conference call to discuss the company's 2006 third quarter and first nine-month results on Tuesday, October 24, 2006 at 8:30am Eastern Time.

To access the conference call, please dial 1 888-694-4702 (U.S.) or 1 973-582-2741 (International). Please ask to be connected to SCA's Q3 2006 Earnings Call and provide the following passcode: 7959048. SCA will also broadcast a live audio webcast of the conference call. The broadcast will be available by visiting the "Investor Relations" section of the Company's website at http://www.scafg.com. Following the earnings conference call, an archive of the call will be available by dialing 1 877-519-4471 (U.S.) or 1 973-341-3080 (International) for 90 days following the earnings announcement. The passcode for replay participants is: 7959048. The conference call will also be archived at http://www.scafg.com for 90 days following the earnings announcement.

About Security Capital Assurance

Security Capital Assurance Ltd (NYSE: SCA - News) is a Bermuda-domiciled holding company whose operating subsidiaries provide credit enhancement and protection products to the public finance and structured finance markets throughout the United States and internationally. SCA, through its subsidiaries - XL Capital Assurance Inc. (XLCA), a monoline financial guarantee insurance provider and XL Financial Assurance Ltd. (XLFA), a monoline provider of reinsurance to financial guarantee insurers - issues financial guarantee insurance policies and credit default swaps, as well as the reinsurance of financial guarantee insurance and credit default products written by other insurers. XLCA and XLFA are assigned the highest financial strength ratings by the major credit rating agencies: Aaa by Moody's Investors Service, AAA by Standard & Poor's Ratings Service, and AAA by Fitch Ratings. For more information please visit www.scafg.com.

    Contact:
    Investors
    Frank Constantinople
    1 212-478-3483 or 1 441-294-7448
    frank.constantinople@xlgroup.com

    Media
    Courtney Franson
    1 212-478-3463
    courtney.franson@xlgroup.com

    Catherine Jones
    1 212-333-3810
    cjones@brunswickgroup.com

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Source: Security Capital Assurance Ltd

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