Sharesave Scheme

Hiscox PLC
06 January 2003

FOR IMMEDIATE RELEASE

                                                                  7 January 2003



                                   HISCOX PLC

                                Sharesave Scheme

The board of Hiscox plc ('Hiscox' or the 'Company') hereby announces that on 6
January 2003, Hiscox allotted a total of 1,641 shares of 5p each at a price of
118p 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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