Director Shareholding

Hiscox PLC
20 April 2004

Hiscox plc

20 April 2004





FOR IMMEDIATE RELEASE



                           Hiscox plc (the 'Company')

                           Directors' Shareholdings


Pursuant to the Hiscox Performance Share Plan (the 'Plan'), ordinary shares of
5p each of the Company have been released as follows to directors of the Company
as a consequence of the vesting of awards previously made under the Plan:


                                   Shares released              Resultant total                      %
                                                                                            beneficial interest
S J Bridges                             27,364                      232,647                        0.08
R R S Hiscox                            27,364                     8,912,059                       3.06
B E Masojada                            27,364                     2,345,172                       0.80




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