Holding(s) in Company

Hiscox PLC
13 April 2005


                          Sale of shares in Hiscox plc

Hiscox Investment Management, the fund management subsidiary of Hiscox plc,
today announced the sale of shares in Hiscox plc by the Hiscox Insurance
Portfolio Fund (the 'Fund'). The Fund held under one per cent of the issued
share capital of Hiscox plc.

In response to increasing regulation and in order to avoid any conflict of
interest that may occur in the future, Hiscox Investment Management, the
investment advisers to the Fund have concluded that it is no longer appropriate
to hold shares in Hiscox plc in the Fund. As a consequence, the Fund has sold
all its shares in Hiscox plc and will not hold Hiscox plc shares in the future.
                                    
                                     - ends-

For further information:

Hiscox Investment Management
Alec Foster         Chief Investment Officer         020 7448 6022

Hiscox plc
Bronek Masojada     Chief Executive                  020 7448 6012
Stuart Bridges      Finance Director                 020 7448 6013
Fiona Fong          Director of Communications       020 7448 6447

The Maitland Consultancy
Philip Gawith                                        020 7379 5151
Suzanne Bartch                                       020 7399 5151

Notes to editors

Hiscox plc is a specialist insurance group listed on the London Stock Exchange
where it has a market capitalization of circa £500 million. There are three main
underwriting parts of the Group - Syndicate 33 at Lloyd's, UK Retail and
International Retail. Syndicate 33 underwrites mainly internationally traded
business in the London Market - generally large or complex business which needs
to be shared with other insurers or needs the international licenses of Lloyd's.
The UK Retail business offers a wide range of specialist insurance for
professionals and business customers, as well as high net worth individuals. It
has regional offices in Birmingham, Glasgow, Leeds, Maidenhead and Colchester.
The International Retail business has offices in Paris, Amsterdam, Munich,
Brussels and Guernsey. The European offices write mainly high value household
business and some specialist professional indemnity business. The Guernsey
office underwrites kidnap and ransom business and fine art. For further
information, go to www.hiscox.com

The Hiscox Insurance Portfolio fund is a UK OEIC which allows third parties to
invest in the international insurance sector. With £63 million under management,
the fund was set up to offer investors the opportunity to invest in an insurance
fund managed from within the industry. The fund invests exclusively in a
portfolio of quoted international insurance shares and has significantly
outperformed its benchmark since its launch in October 1998, rising 42.0% over
this period against a 10.9% increase in the benchmark (Datamark World Insurance
Index (US$)).



                      This information is provided by RNS
            The company news service from the London Stock Exchange
            RVWRSAAR