Director Shareholding

Hiscox PLC
17 October 2002




FOR IMMEDIATE RELEASE                              17 October 2002



                                   HISCOX PLC

                            Director's Shareholdings


The Board of Hiscox has been notified of the following sales of nil paid rights
to subscribe for new ordinary shares of 5p each in Hiscox. The proceeds will all
be used to take up other rights.



                                 Rights sold  Price per right   Date of sale

Robert Hiscox (beneficial)        1,287,956      3.0p           15 October 2002
Robert Childs                        90,112      3.0p           15 October 2002
Derek Netherton                       2,916      3.0p           15 October 2002



In addition to the above transactions, Hiscox Holdings Limited sold 547,167 nil
paid rights at the same time and price. Hiscox Holdings Limited is a
wholly-owned subsidiary of Hiscox plc with a holding of 1,094,334 existing
ordinary shares in Hiscox plc as disclosed in the Listing Particulars dated 10
September 2002.


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