Share Option Scheme

Hiscox PLC
20 September 2005


Approved Option Scheme

We wish to advise that on 16 September Hiscox plc allotted 16,418 shares of 5p
each at an exercise price of £1.754 and 1,136 shares of 5p each at an exercise
price of £1.051 under the Approved Option Scheme.

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

Unapproved Option Scheme

We wish to advise that on 16 September Hiscox plc allotted 27,364 shares of 5p
each at an exercise price of £1.622, 43,783 shares of 5p each at an exercise
price of £1.32, 21,891 shares of 5p each at an exercise price of £1.809 under
the Unapproved Option Scheme.

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

The issued share capital of Hiscox plc is now 294,674,794 ordinary shares of 5p
each.





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