Director Shareholding

Hiscox PLC
15 January 2003


FOR IMMEDIATE RELEASE

15 January 2003

                                   HISCOX PLC

                            Director's Shareholdings

Hiscox Plc (the 'Company') was notified on 15 January 2003 that, following the
disposal of 15,431 ordinary 5p shares in the Company on 5 January 2003, Robert
Hiscox now has a non-beneficial interest of 582,715 ordinary shares or 0.2% of
the issued share capital of the Company. Robert Hiscox's beneficial holding of
8,821,650 ordinary shares or 3.05% of the Company remains unchanged.

The executive directors of the Company are potential beneficiaries of the
Company's employee share ownership plan trust ('ESOP') and are therefore also
each deemed to have an additional non-beneficial interest in 255,466 Hiscox
shares owned by Hiscox Trustees Limited, the trustee of the ESOP.


END


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