Employee Share Option Scheme

Hiscox PLC
24 September 2003

24 September 2003

                                   HISCOX PLC

                     Approved Employee Share Option Scheme

The board of Hiscox plc ('Hiscox') advises that on Tuesday, 23 September 2003 it
allotted 8,209 shares of 5p each at an exercise price of £1.32 and 9,786 shares
of 5p each at an exercise price of £1.051 under the above scheme.

These shares will rank pari passu with the existing class of ordinary 5p shares
in issue.


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