Sharesave Scheme

Hiscox PLC
24 July 2002


FOR IMMEDIATE RELEASE     24 July 2002



                             HISCOX PLC ('Hiscox')

                                Sharesave Scheme



The board of Hiscox announces that on 18 July 2002, Hiscox allotted a total of
3,686 shares of 5p each at a price of £0.964 following the exercise of options
under the Sharesave Scheme.


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




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