Share Option Scheme

Hiscox PLC
04 January 2006


Unapproved Option Scheme

We wish to advise that today Hiscox plc allotted 24,627 shares at an exercise
price of £1.809, and 70,000 shares at an exercise price of £1.290.

These shares will rank pari passu with the existing class of ordinary 5p shares
in issue.

The issued share capital of Hiscox plc is now 391,501,263 ordinary shares of 5p
each.



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