Director Shareholding

Beazley Group PLC
16 May 2003


BEAZLEY GROUP PLC

GRANT OF SHARE OPTIONS TO DIRECTORS


The Board of Beazley Group plc announces that the following grants of share
options over the Company's Ordinary shares of 5p have been made on 15th May 2003
to the undermentioned Directors. References to 'Scheme' are as follows:


Beazley Group plc Approved Share Option Plan ('Approved')

Beazley Group plc Unapproved Share Option Plan ('Unapproved')

Beazley Group plc Long-Term Incentive Plan ('L-Tip')

Beazley Group plc Savings-Related Share Option Plan ('SAYE')

Director   Scheme       No of share  Exercise  Total Number of share options
                        options      Price     held following notification
A F        Unapproved      150,000        92p                        1,506,381
Beazley
           L-Tip            50,000         -
           SAYE             12,600        75p

N H        Unapproved       70,968        92p                          629,361
Furlonge
           L-Tip            23,656         -
           SAYE:            12,600        75p

J G Gray   Unapproved       90,726        92p                        1,090,855
           L-Tip            30,242         -
           SAYE             12,600        75p

N P        Unapproved       88,710        92p                        1,142,113
Maidment
           L-Tip            29,570         -
           SAYE             12,600        75p

A R        Approved         32,608        92p                          346,089
Manners
           Unapproved       20,618        92p
           L-Tip            17,742         -
           SAYE             12,600        75p

J G B      Unapproved       92,742        92p                          867,490
Rowell
           L-Tip            30,914         -
           SAYE             12,600        75p


In all cases there was no consideration for the grant of the option.


The exercise period in respect of the grants under the Approved, Unapproved and
L-Tip Schemes is from 15th May 2006 to 14th May 2013.


The exercise period in respect of the grants under the SAYE Scheme is from 1st
July 2006 to 1st January 2007.


Contact:


Jeremy Gorman

Company Secretary

020 7935 0027






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