TORONTO, ONTARIO--(Marketwire - Aug. 4, 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:

Class                              Record Date     Payable Date   Amount of
                                                                   Dividend
First Preference Shares,       October 2, 2009 October 16, 2009    $0.33125
Series 1

First Preference Shares,       October 2, 2009 October 16, 2009   $0.296875
Series 2

Series A Preference            October 2, 2009 October 16, 2009      $0.125
Shares

Common Shares                  October 2, 2009 October 16, 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)