Share Option Scheme

Hiscox PLC
12 January 2006

Approved Option Scheme

On 10 January 2006, Hiscox plc allotted 23,001 shares at an exercise price of
£1.02; 27,874 shares at an exercise price of £1.252; 20,300 shares at an
exercise price of £1.281; 16,918 shares at an exercise price of £1.574; 5,639
shares at an exercise price of £1.755.

On 11 January 2006, Hiscox plc allotted 28,198 shares at an exercise price of
£1.02; 704 shares at an exercise price of £1.755; and 5,639 shares at an
exercise price of £1.574.


Unapproved Option Scheme

On 10 January 2006, Hiscox plc allotted 22,559 shares at an exercise price of
£0.806; 16,248 shares at an exercise price of £1.02; 118,971 shares at an
exercise price of £1.252; 7,895 shares at an exercise price of £1.281; and 5,639
shares at a exercise price of £1.755.

On 11 January 2006, Hiscox plc allotted 56,398 shares at an exercise price of
£0.806; 51,526 shares at an exercise price of £1.252; and 21,853 shares at an
exercise price of £1.755.


UK Sharesave Scheme

On 11 January 2006, Hiscox plc allotted 44,872 shares at an exercise price of
£0.98785 under the UK Sharesave Scheme.


International Sharesave Scheme

On 11 January 2006, Hiscox plc allotted 17,215 shares at an exercise price of
£0.98785; and 1,200 shares at an exercise price of €1.57299 under the
International Sharesave Scheme.

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 391,993,912 ordinary shares of 5p
each.




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