Sharesave Scheme

Hiscox PLC
9 January 2002



FOR IMMEDIATE RELEASE     9 January 2002


                            HISCOX PLC ('Hiscox')

                               Sharesave Scheme


The board of Hiscox announces that on 20 December 2001, Hiscox allotted a
total of 1,030 shares of 5p each at a price of 150.4p following the exercise
of options under the Sharesave Scheme.

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