Share Option Scheme

Hiscox Ltd
22 October 2007


                                   Hiscox Ltd

HAMILTON, Bermuda; Hiscox Ltd allotted the following shares under Hiscox
Unapproved Share Option Scheme ('Unapproved Options'):

     Date              Scheme       No. of Shares       Ex. Price

22 October 2007      Unapproved         72,136            £2.736
22 October 2007      Unapproved         30,915            £2.736
                                    -------------
                                       103,051
                                    -------------

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

The issued share capital of Hiscox Ltd is now 396,154,792 Ordinary shares of 5p
each.


                                   SECRETARY





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