Grant of Options

Hiscox PLC
13 July 2004

                                GRANT OF OPTIONS

On 13th July 2004, 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 156p.

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

                                    - ends -

For further information:

Hiscox plc
Fiona Fong, Director of Communications                    020 7448 6447

The Maitland Consultancy
Suzanne Bartch                                            020 7379 5151






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