Share Option Scheme

Hiscox Ltd
19 September 2007


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

Date                 Scheme             No. of Shares          Ex. Price

18 September 2007    Unapproved         19,561                 £1.020
18 September 2007    Unapproved         22,559                 £0.806
                                        --------------
                                        42,120
                                        --------------

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 397,183,055 Ordinary shares of 5p
each.


                                   SECRETARY




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