Exercise of approved options

Hiscox PLC
01 April 2004

1 April 2004


                                   HISCOX PLC

                          Exercise of Approved Options


The board of Hiscox plc ('Hiscox') advises that today it allotted a total of
3,283 shares of 5p each at an exercise price of £1.051 under the Approved Share
Option Scheme.



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


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