Sharesave Scheme

Hiscox PLC
17 June 2002


FOR IMMEDIATE RELEASE                                               17 June 2002



                             HISCOX PLC ('HISCOX')

                                Sharesave Scheme


The Board of Hiscox announces that on 17 June 2002 a total of 1,288 shares of 5p
each at a price of £1.504 following the exercise of options under the Sharesave
Scheme.

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


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