Share Option Scheme

Hiscox PLC
11 July 2006


                                   Hiscox plc

On 10 July 2006, Hiscox plc allotted 36,066 shares under the Hiscox Approved
Share Option Scheme ('Approved Scheme') and the Hiscox Unapproved Share Option
Scheme ('Unapproved Scheme') as set out below.

Share Option Scheme                   No. Options            Exercise Price
                                                                        (£)

Approved Scheme                             8,784                     1.465
Unapproved Scheme                          11,825                     1.465
Unapproved Scheme                          15,457                     1.252

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 393,020,981 ordinary shares of 5p
each.



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