Energy XXI Announces Cash Dividend

HOUSTON, Nov. 3, 2008 (GLOBE NEWSWIRE) — Energy XXI (Bermuda) Limited (Nasdaq:EXXI) (AIM:EXXI) today announced that its board of directors has declared a regular quarterly cash dividend on the company’s common stock.

A dividend of $.005 per share was declared on the company’s outstanding unrestricted and restricted common stock, payable Dec. 5, 2008, to stockholders of record at the close of business on Nov. 14, 2008.

The board of directors will determine future dividends for Energy XXI common stock on a quarterly basis, with the amount dependent upon earnings, financial condition, capital requirements and other factors.

About the Company

Energy XXI is an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program. The company’s properties are located in the U.S. Gulf of Mexico waters and the Gulf Coast onshore. Collins Stewart Europe Limited and Tristone Capital Limited are Energy XXI listing brokers in the United Kingdom. To learn more, visit the Energy XXI website at www.energyxxi.com.

The Energy XXI logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3587

This news release was distributed by GlobeNewswire, www.globenewswire.com

 CONTACT:  Energy XXI (Bermuda) Limited           Stewart Lawrence, Vice President, Investor Relations and            Communications           +1 713-351-3006           slawrence@energyxxi.com            Collins Stewart Europe Limited           Nominated Adviser and Joint UK Broker           Seema Paterson           +44 207 523 8321           spaterson@collins-stewart.com            Pelham PR           James Henderson             +44 207 743 6673             james.henderson@pelhampr.com           Alisdair Haythornthwaite             +44 207 743 6676             alisdair.haythornthwaite@pelhampr.com