Exercise of Options

Hiscox PLC
30 November 2004


Exercise of Options

Exercise of Approved Options

We wish to advise that today Hiscox plc allotted 3,283 shares of 5p each at an
exercise price of £1.32 and 156 shares of 5p each at an exercise price of £1.051
under the Approved Share Option Scheme.

Exercise of Unapproved Options

We wish to advise that today Hiscox plc allotted 62,390 shares of 5p each at an
exercise price of £1.32, 109,301 shares of 5p each at an exercise price of
£1.051, 136,821 shares of 5p each at an exercise price of £0.831 and 175,000
shares of 5p each at an exercise price of £1.29 under the Unapproved Share
Option Scheme.

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





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