Share Incentive Plan

B.P. Marsh & Partners PLC
20 April 2006

Date:                         20 April 2006

On behalf of:                 B.P. Marsh & Partners Plc
                              For immediate release



B.P. Marsh & Partners Plc



Stock Appreciation Rights Plan



Following a meeting of the Remuneration Committee of B. P. Marsh & Partners Plc
(the 'Company') on 19 April 2006, a number of initial Awards of Share Units have
been made under the Company's Stock Appreciation Rights Plan (the 'Plan'), as
set out in the table below.



The relevant Performance Period for the final vesting of Share Units shall
commence from the date of Admission and end ten dealing days after the
announcement of the Company's results for the financial year ending 31 January
2009.



The actual number of Share Units which will vest at the end of the Performance
Period will depend on a number of performance criteria. Whilst the maximum
possible number of Share Units cannot exceed 15% of the Company's issued share
capital from time to time, the actual number of ordinary shares to be issued on
the basis of the Share Units vested cannot exceed 12.5% of the issued share
capital at the end of the Performance Period, and will depend on the growth in
the Company's share price.



Further details regarding the operation of the Plan were disclosed in the
Admission Document dated 2 February 2006.


Executive                               Initial Award of Share Units     % of total Share Units
Francis de Zulueta                                         1,098,230                        25%
Natasha Dunbar                                               878,584                        20%
Stephen Crowther                                             878,584                        20%
Jonathan Newman                                              878,584                        20%
Philip Mortlock                                              658,938                        15%
Total                                                      4,392,921                       100%





For further information:

B.P. Marsh & Partners Plc                        www.bpmarsh.co.uk
Brian Marsh OBE                                  [phone]

Nabarro Wells & Co. Limited
David Nabarro                                    [phone]
Marc Cramsie                                     [phone]


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