Share Allotment

Hiscox PLC
16 May 2003

FOR IMMEDIATE RELEASE




                                   Hiscox plc


                                Share Allotment



The board of Hiscox plc hereby advises that on 13th May 2003 it allotted the
following shares of 5 p each at exercise prices set out below after the exercise
of options under the following schemes:


Hiscox Holdings Inland Revenue Approved and Unapproved Share Option Schemes
Approved                                              Exercise Price

21,152                                                £0.21

Unapproved                                            Exercise Price

52,882                                                £1.095
63,457                                                £1.095
31,728                                                £1.095
42,305                                                £1.095
21,152                                                £1.095

The Board of Hiscox plc also allotted on 13th May 2003 a total of 1,436 shares
of 5 p each at a price of £1.078 following the exercise of options under the
Sharesave Scheme.


The total number of shares allotted was 234,112. These shares will rank pari
passu with the existing class of ordinary 5 p shares in issue.


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