Sharesave Scheme

Hiscox PLC
21 January 2003


FOR IMMEDIATE RELEASE                                            21 January 2003


                                   HISCOX PLC

                                Sharesave Scheme

  The board of Hiscox plc ('Hiscox') hereby announces that on 21 January 2003,
 Hiscox allotted a total of 7,188 shares of 5p each (4,268 at an exercise price
  of 118p and 2,920 at an exercise price of 72.8p) under the Sharesave Scheme.

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

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