Share Option Scheme

Hiscox Ltd
05 September 2007


                                   HISCOX LTD

HAMILTON, Bermuda; Hiscox Ltd allotted the following shares under the Hiscox
Unapproved Share Option Scheme ('Unapproved'), the Hiscox Approved Share Option
Scheme ('Approved'), and the Hiscox UK ShareSave Scheme ('UK ShareSave'):

Date                        Scheme            No. of Shares          Ex. Price

31 Aug 2007             Unapproved                    1,803             £1.252
31 Aug 2007             Unapproved                   72,136             £1.514
31 Aug 2007             Unapproved                    1,127             £1.281
31 Aug 2007             Unapproved                   16,919             £1.755
31 Aug 2007             Unapproved                   51,526             £1.252
31 Aug 2007             Unapproved                   41,220             £1.514
31 Aug 2007             Unapproved                   41,220             £1.465
31 Aug 2007             Unapproved                   41,220             £1.499
31 Aug 2007               Approved                   23,959             £1.252
31 Aug 2007               Approved                    5,639             £1.574
31 Aug 2007               Approved                      871             £1.020
31 Aug 2007           UK ShareSave                      673            £1.5759
31 Aug 2007           UK ShareSave                      768           £1.32166
31 Aug 2007           UK ShareSave                    1,241           £1.32166
31 Aug 2007           UK ShareSave                    2,568            £1.5759
31 Aug 2007           UK ShareSave                      620           £1.32166
31 Aug 2007           UK ShareSave                       67              £2.22
31 Aug 2007           UK ShareSave                      642            £1.5759
                                              --------------
                                                    304,219
                                              --------------

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

The issued share capital of Hiscox Ltd is now 396,939,035 Ordinary shares of 5p
each.


SECRETARY





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