TORONTO, ONTARIO--(MARKET WIRE)--Nov 3, 2008 -- The Board of Directors of E-L Financial Corporation Limited (Toronto:ELF.TO - News)(Toronto:ELF-PRF.TO - News)(Toronto:ELF-PRG.TO - News) today declared the following cash dividends:

 

Class                          Record Date       Payable Date   Amount of
                                                                 Dividend

First Preference Shares,   January 2, 2009   January 17, 2009    $0.33125
 Series 1

First Preference Shares,   January 2, 2009   January 17, 2009   $0.296875
 Series 2

Series A Preference        January 2, 2009   January 17, 2009      $0.125
 Shares

Common Shares              January 2, 2009   January 17, 2009      $0.125

E-L Financial Corporation Limited advises that the above referenced dividends are eligible dividends for the purposes of the Income Tax Act, Canada and any similar provincial tax legislation.

     Contacts:
     E-L Financial Corporation Limited
     Richard B. Carty
     Vice-President, General Counsel and Corporate Secretary
     (416) 947-2578
     (416) 362-2592 (FAX)