Grant of Options

Hiscox PLC
02 April 2003

2 April 2003

FOR IMMEDIATE RELEASE

                                   Hiscox plc

                                Grant of Options


On 2 April 2003, the Board of Hiscox plc (the 'Company') granted options over a
total of 3,000,000 ordinary shares of 5p each in the Company pursuant to the
approved and unapproved employee share option schemes of the Company. All
options so granted are exercisable at a price of 151p.

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

Robert R S Hiscox                                   50,000

Bronek E Masojada                                  200,000

Stuart J Bridges                                   150,000

Robert S Childs                                    200,000



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