domicile to Bermuda, according to Bloomberg business news service citing a story in the South China Morning Post.

Giordano filed proposals with the Hong Kong Stock Exchange recommending the move to shareholders.

If shareholders agree, they would receive a one for one share swap with Giordano's Bermuda-incorporated holding company Giordano International Ltd.

That company was incorporated in Bermuda on March 3.

Mr. Jimmy Lai, who controls 37 percent of Giordano, ran an article in his magazine, Next, that insulted Chinese Premier Li Peng. The story reportedly set off a row between Mr. Lai and the Chinese government.

XL ANNOUNCES ITS DIVIDEND STK XL announces its dividend EXEL Ltd. has announced an unchanged dividend of 33 cents per share.

The dividend will be paid May 1 to shareholders of record April 17.

EXEL, through its wholly-owned subsidiaries, XL Insurance Company Ltd. and XL Europe Insurance, provides general liability, directors and officers liability, professional liability and property coverage to industrial, commercial and other enterprises, directors and officers of such enterprises and professional service firms.