Stmnt re US terrorist attacks

Hiscox PLC
13 September 2001

                                  Hiscox plc


           Announcement following the terrorist attacks in the USA

It is hard to put into words our shock and horror at the terrorist attacks in
the USA, and in particular at the World Trade Centre tragedy. We have friends
and colleagues involved which intensifies our enormous sympathy for all
concerned.


At such an emotional time it is hard to talk of financial involvement. It is
also made difficult by the obvious lack of information so soon after the event
which makes it impossible to publish a sufficiently accurate assessment of the
potential loss to Syndicate 33. However, our current knowledge indicates that
it will be within our expected loss from a very large natural catastrophe in
which event Syndicate 33 and Hiscox plc will have sufficient funds to cover
payments as they come due. It will clearly have a material impact on this
year's profitability.


The loss is a human tragedy. It is, however, the sort of loss that Lloyd's is
in business to cover and we will all work to do what we can to alleviate the
suffering and repair the damage.


Neither the Hiscox Insurance Company nor the Hiscox Insurance Company
(Guernsey) appears to have any material exposure to the catastrophe.


Fuller details will be given in our interim results which are due to be
announced on 25th September 2001.



For further information:

Robert Hiscox     Chairman     Hiscox plc                         020 7448 6011

Bronek Masojada   CEO          Hiscox plc                         020 7448 6012

Alex Gordon Shute Press office Hiscox plc                         020 7448 6609

Philip Gawith                  The Maitland Consultancy           020 7379 5151