  In this study, we present an analysis of the archival X-ray data of the
eclipsing supersoft X-ray binary CAL 87 observed with the {\it Chandra}
Advanced CCD Imaging Spectrometer (ACIS) camera and Low Energy Transmission
Grating (LETG) in 2001 August and with {\it XMM-Newton} in 2003 April. The high
resolution X-ray spectra are almost unchanged in the two different dates. The
average unabsorbed X-ray luminosity during the exposure was
4.64$-$5.46$\times10^{36}$ ergs s$^{-1}$ in 2001 and 4.54$-$4.82
$\times10^{36}$ ergs s$^{-1}$ in 2003, with prominent and red-shifted emission
lines, mostly of nitrogen, oxygen, iron and argon, contributing to at least
30\% of the X-ray flux. The continuum X-ray flux is at least an order of
magnitude too small for a hot, hydrogen burning WD. However, the continuum flux
is consistent with Thomson-scattering reflecting about 5\% of the light of a
hydrogen burning WD with effective temperature of 800,000 K, and a mass of
$\sim$ 1.2 M$_\odot$. It has been noted before that a large Thomson-scattering
corona explains the X-ray eclipse of CAL 87, in which the eclipsed region is
found to be of size the order of a solar radius. The emission lines originate
in an even more extended region, beyond the eclipsed central X-ray source; the
emission spectrum is very complex, with unusual line ratios.
