Employee Share Option Schemes

Hiscox PLC
6 December 1999


Hiscox plc Qualifying Employee Share Ownership Trust ('QUEST'), the
trustee of a trust established by deed on 29 September 1998 to
facilitate the operation of the Hiscox plc SAYE Share Option Schemes
('the Schemes'), subscribed on 3 December 1999 for 19,110 new ordinary
shares of Hiscox plc at 135p per share, representing 0.01% of the
enlarged issued share capital.

These shares were immediately transferred by the QUEST to employees who
had validly exercised options granted under the schemes in respect of
such shares.