Exercise of Options

Hiscox PLC
04 October 2004


Exercise of Unapproved Options

We wish to advise that today Hiscox plc allotted 43,783 shares of 5p each at an
exercise price of £0.831 under the Unapproved Share Option Scheme.

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