Share Allotment

Hiscox PLC
07 April 2003

7 April 2003


FOR IMMEDIATE RELEASE


                                   Hiscox plc


                                Share Allotment

On 3 April 2003, Hiscox plc allotted the following ordinary shares of 5p each at
exercise prices set out below following the exercise of options under the
following schemes:

Hiscox Holdings Inland Revenue Approved and Unapproved Share Option Schemes
Approved                                                  Exercise Price
31,728                                                    £0.21
74,034                                                    £0.314
Unapproved                                                Exercise Price
63,457                                                    £1.095

In addition, Hiscox plc allotted 4,378 ordinary shares of 5p each at an exercise
price of £1.320 following the exercise of options under the Hiscox Unapproved
Share Option Scheme and 6,100 ordinary shares of 5p each at an exercise price of
£0.665 following the exercise of options under the Sharesave Scheme.

The total number of shares allotted was 179,697. These shares will rank pari
passu with the existing class of ordinary 5p shares in issue.


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