Exercise of LTIPs

Beazley Group PLC
10 May 2007




Press Release





Beazley Group Plc - Exercise of Long Term Incentive Plan Options (LTIP's)


                                                                     10 May 2007





On 8 May 2007 the following Directors exercised LTIP's that had vested and sold
interests in ordinary shares.

+-----------+-----------+----------+--------+------------+--------+
|           |Option     |Options   |Shares  |Current     |%       |
|           |Scheme and |exercised |Sold    |shareholding|Holding |
|           |date of    |          |        |            |        |
|           |grant      |          |        |            |        |
+-----------+-----------+----------+--------+------------+--------+
|N H        |LTIP 29th  |    13,527|       -|   1,294,525|   0.35%|
|Furlonge   |March 2004 |          |        |            |        |
+-----------+-----------+----------+--------+------------+--------+
|J G Gray   |LTIP 29th  |    15,331|   7,483|   3,389,597|   0.92%|
|           |March 2004 |          |        |            |        |
+-----------+-----------+----------+--------+------------+--------+
|D A Horton |LTIP 29th  |    15,331|   7,483|      75,769|   0.02%|
|           |March 2004 |          |        |            |        |
+-----------+-----------+----------+--------+------------+--------+
|J G Rowell |LTIP 29th  |    15,331|   7,483|   4,904,010|   1.34%|
|           |March 2004 |          |        |            |        |
+-----------+-----------+----------+--------+------------+--------+


The Directors in aggregate hold 5.25% of the issued share capital.


The exercise price for the LTIP's was nil and the shares were sold at an average
price of 158.4p per share.


The LTIP's were awarded in March 2004. These options had performance conditions
relating to the growth in the asset value and comparative Total Shareholders
Return during the measurement period. The performance conditions were measured
in March 2007 and approximately 70% of the shares have now vested. Certain
Directors have taken this opportunity to sell sufficient shares to fund the tax
liabilities that have arisen on exercise.





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