Employee Share Option Scheme

Hiscox PLC
07 November 2003


7 November 2003

                                   HISCOX PLC

                     Approved Employee Share Option Scheme


The board of Hiscox plc ('Hiscox') advises that on 6 November, 2003 it allotted
5,472 shares of 5p each at an exercise price of £1.051 under the Approved
Employee Share Option Scheme.

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



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