Director Shareholding

Hiscox PLC
19 January 2004

19 January 2004

                                   HISCOX PLC

                            Director's Shareholdings

Hiscox Plc (the 'Company') was notified on Thursday, 15 January 2004 that,
following the allotment of 10,999 ordinary 5p shares in the Company on the
exercise of his share options under the Sharesave Scheme at an exercise price of
88.1 pence per share, Robert Childs now has a beneficial interest of 1,163,468
ordinary shares or 0.4 per cent of the issued share capital of the Company.

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 5p
shares in the Company which are owned by Hiscox Trustees Limited, the trustee of
the ESOP.


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