The Royal Bank of Scotland - Stabilisation Notice.


Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in

which such distribution would be unlawful.

Hiscox Ltd.

Stabilisation Notice

The Royal Bank of Scotland plc (contact: Harman Dhami +44 207 085 5862) hereby gives notice that no stabilisation, within the meaning of the rules under Commission Regulation (EC) No. 2273/2003 implementing the Market Abuse Directive (2003/6/EC), was undertaken by the Stabilising Manager(s) named below in relation to the offer of the following securities.

Issuer:   Hiscox Ltd
Guarantor (if any): None
Aggregate nominal amount: GBP 275m

T2 Subordinated Notes XS1323450236

Stabilising Manager(s) The Royal Bank of Scotland plc (co-ordinating stabilisation manager)

Barclays Bank PLC


UBS Limited

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement is not an offer of securities for sale into the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There has not been and will not be a public offer of the securities in the United States.

Short Name: Royal Bk Scot.Grp.
Category Code: MSC
Sequence Number: 496712
Time of Receipt (offset from UTC): 20151123T080731+0000


The Royal Bank of Scotland plc


The Royal Bank of Scotland plc