Exercise of Pre IPO Options

Beazley Group PLC
13 March 2007


Beazley Group Plc

13th March 2007


                       Beazley Group plc (the 'Company')

                 Exercise of Pre IPO Options and sale of shares



On 12th March 2007 the following Directors exercised Pre IPO options that had
vested and sold interests in ordinary shares.

                    Previous       Pre IPO   Existing      Total      Current        %
                shareholding        shares     Shares     shares shareholding  holding
                              exercised at       Sold       sold
                                71.44p per
                                     share
A F Beazley        7,117,850       747,438               747,438    7,117,850     1.9%
N H Furlonge       2,510,831       307,769  1,250,000  1,557,769    1,260,831     0.3%
J G Gray           3,381,749       615,537               615,537    3,381,749     0.9%
N P Maidment       2,958,251       659,504               659,504    2,958,251     0.8%
J G Rowell*        4,783,608       439,670               327,116    4,896,162     1.3%
C A Washbourne             -       364,925               364,925            -     0.0%
                  20,752,289     3,134,843  1,250,000  4,272,289   19,614,843


The Directors in aggregate hold 5.4% of the issued share capital.


The shares were sold at an average price of 143p per share


The Pre IPO Options were awarded in November 2002 at the time of Listing of
Beazley on the Stock Exchange. These options had testing performance conditions
that required the Total Shareholder Return to be 110% of the exercise price of
71.44p (the Listing price having adjusted for the Rights Issue in November
2004). This performance condition was met in January 2007 and 75% of the shares
awarded have now vested. The Directors have taken this opportunity to either
sell sufficient shares to fund the exercise price and tax liabilities or to sell
all the options that have exercised. In addition, Nick Furlonge has taken this
opportunity to sell part of his holding.



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