Sharesave Scheme

Hiscox PLC
18 December 2002


FOR IMMEDIATE RELEASE

18 December 2002


                                   HISCOX PLC

                                Sharesave Scheme

The board of Hiscox plc ('Hiscox' or the 'Company') hereby announces that today
Hiscox allotted a total of 64,353 shares of 5p each at an exercise price of 118p
following the exercise of options under the Sharesave Scheme.

Subsequent to the exercise of 8,209 of these options, Robert Hiscox will have
8,829,859 beneficial shares, or 3.05% of the issued share capital of the
Company. There is no change to his non-beneficial shareholding, which remains at
598,146 or 0.2% of the issued share capital of the Company.

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



                      This information is provided by RNS
            The company news service from the London Stock Exchange