Hiscox Managed Syndicates

Hiscox PLC
30 August 2000


HISCOX PLC
1998 AND 1999 ACCOUNT OPEN YEAR FORECASTS
FOR SYNDICATE 33 MANAGED BY HISCOX SYNDICATES LTD


The  forecasts  for Syndicate 33 shown below are after  standard
personal expenses but before Members' Agents' charges.  Standard
personal  expenses  comprise  managing  agent  fees  and  profit
commission  and  all  charges  levied  directly  on  members  by
Lloyd's.


Composite     Current          Previous        Year of
Syndicate 33  Forecasts as     Forecast        Account
              % of Capacity                    Capacity
              for
              an Individual
              Name
              (Note 1)
              
1998 Account  -7.5% to -12.5%  -2.5% to -7.5%       £360m
                                                         
1999 Account  -6.5% to -11.5%  Not applicable       £360m
                                                         



NOTE 1

The 1998 and 1999 forecasts have not been audited, nor have they
been subject to independent actuarial review.  They are given as
a  projected return on capacity.  The final result of  the  1998
and  1999  accounts will not be determined until March 2001  and
March 2002 respectively.  The development of these accounts will
continue to be affected by unexpired risks and the final  result
will  be  influenced  by the future development  of  claims  and
expenses,  the  eventual year end reserving exercise  (including
the  reassessment of reserves required for the prior years)  and
the  final level of investment earnings.  Any of these  features
could vary these estimates substantially.


For further information please contact:

Bronek Masojada
Hiscox
020 7448 6012
[e-mail]

Philip Gawith
The Maitland Consultancy
020 7379 5151
[e-mail]