TORONTO, ONTARIO--(Marketwire - May 8, 2009) - The Board of Directors of E-L Financial Corporation Limited (TSX:ELF - News; TSX:ELF.PR.F - News; TSX:ELF.PR.G - News) today declared the following cash dividends:

                                                                  Amount of
Class                          Record Date        Payable Date     Dividend

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

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

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

Common Shares                 July 2, 2009       July 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.

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