Grant of Options

Hiscox PLC
19 November 2002


FOR IMMEDIATE RELEASE     19 November 2002




                                   HISCOX PLC

                                Grant of Options


On 19 November 2002, the Board of Hiscox plc (the 'Company') granted options
over a total of 3,000,000 ordinary shares of 5p each in the Company ('Shares'),
pursuant to the approved and unapproved employee share option schemes of the
Company. All options so granted are exercisable at a price of 129p.


Included in these grants were options granted to directors of the Company as set
out below:

Bronek E Masojada                               200,000
Stuart J Bridges                                175,000
Robert S Childs                                 200,000



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