Director Shareholding

Hiscox PLC
18 September 2003

                                   HISCOX PLC


                            Director's Shareholdings




Hiscox Plc (the 'Company') was notified on 17 September 2003 that, following the
acquisition of 14,000 ordinary 5p shares in the Company on 17 September 2003,
Robert Hiscox now has a beneficial interest of 8,848, 509 ordinary shares or
3.04% of the issued share capital of the Company. Robert Hiscox's non-beneficial
holding of 582,715 ordinary shares or 0.2% of the Company remains unchanged.


The executive directors of the Company are potential beneficiaries of the
Company's employee share ownership plan trust ('ESOP') and are therefore also
each deemed to have an additional non-beneficial interest in 255,466 ordinary
shares owned by Hiscox Trustees Limited, the trustee of the ESOP.




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