Director/PDMR Shareholding

FBD Holdings PLC
27 October 2006

                                  SCHEDULE 11

    Notification of Transactions of Directors/Persons Discharging Managerial
                      Responsibility and Connected Persons

All relevant boxes should be completed in block capital letters
1 Name of the Issuer                    2 State whether the notification relates to:

  FBD HOLDINGS PLC                        (i) a transaction notified in accordance with Market Abuse Rules; (ii) a
                                          disclosure made in accordance with section 53 (as extended by section 64
                                          of the Companies Act 1990) or entered into the issuer's register in
                                          accordance with section 59 of the Companies Act 1990; or (iii) both (i)
                                          and (ii).

                                          (i)


3 Name of person discharging managerial 4 State whether notification relates to a person connected with a person
  responsibilities/director               discharging managerial responsibilities/director named in 3 and identify
                                          the connected person
  MR. MARTIN MORAN  -PDMR
                                          NO
5 Indicate whether the notification is  6 Description of shares (including class) debentures or derivatives or
  in respect of a holding of the person   financial instruments relating to shares
  referred to in 3 or 4 above or in
  respect of a non-beneficial interest    FBD HOLDINGS PLC 60C ORDINARY SHARES

  AS IN 3 ABOVE



7   Name or registered shareholder(s)     8   State the nature of the transaction
    and, if more than one, number of
    shares held by each of them.              (a)     Exercise of share options on 46,000 shares.

    MR. MARTIN MORAN                          (b)     Sale of 46,000 shares
9   Number of shares, debentures or       10  Percentage of issued class acquired (treasury shares of that class
    financial instruments relating to         should not be taken into account when calculating  percentage)
    shares acquired
                                              0.1317%
    46,000
11  Number of shares, debentures or       12  Percentage of issued class disposed (treasury shares of that class
    financial instruments relating to         should not be taken into account when calculating  percentage)
    shares disposed
                                              0.1317%
    46,000
13  Price per share or value of           14  Date and place of transaction
    transaction
                                              (a)     26th October 2006 ;  Dublin
    (a)     €8.99
                                              (b)     26th October 2006;  Dublin
    (b)     €37.83
15  Total holding following notification  16  Date issuer informed of transaction
    and total percentage holding
    following notification (any treasury      (a)     26th October 2006
    shares should not be taken into
    account when calculating percentage)      (b)     26th October 2006

    NIL




If a person discharging managerial responsibilities has been granted options by
the issuer, complete the following boxes:


17 Date of grant                                                 18 Period during which or date on which it can be
                                                                    exercised
19 Total amount paid (if any) for grant of the option            20 Description of shares or debentures involved (class
                                                                    and number)
21 Exercise price (if fixed at time of grant) or indication that 22 Total number of shares or debentures over which
   the price is to be fixed at the time of exercise                 options are held following notification
23 Any additional information                                    24 Name of contact and telephone number for queries

                                                                    4093212

Name and signature of authorised officer of issuer responsible for making notification

DAVID J. FLYNN

____________________________________________________



Date of notification 27th October 2006

Notes:           This form is intended for use by an issuer to make a RIS
notification required by (the Market Abuse Rules(1) and) section 53 (as extended
by section 64 of the Companies Act 1990) or entered into the issuer's register
in accordance with section 59 of the Companies Act 1990.



(1)       An issuer making a notification in respect of a transaction relating
to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and
24.



(2)       An issuer making a notification in respect of a derivative relating to
the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and
24.



(3)       An issuer making a notification in respect of options granted to a
director/person discharging managerial responsibilities should complete boxes 1
to 3 and 17 to 24



(4)       An issuer making a notification in respect of a financial instrument
relating to the shares of the issuer (other than a debenture) should complete
the boxes 1 to 4, 6, 8, 9, 11, 13, 14,

16, 23 and 24.

This announcement has been issued through the Companies Announcement Service of
                            the Irish Stock Exchange





--------------------------


(1) Please note that the requirement to make a notification under the Market
Abuse Rules does not apply until 1 October 2005. Schedule 11 may be subject to
amendment prior to 1 October 2005 to bring it in line with the Financial
Regulator's 'Notification of Transactions of Directors/Persons Discharging
Managerial Responsibility and Connected Persons' under the Market Abuse
Disclosure Rules.




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