Exercise of Options

Leo Insurance Services PLC
04 May 2006


Leo Insurance Services plc(('LEO') or the 'Company')

4 May 2006

Exercise of Options

Leo Insurance Services plc has made an application for trading of 153,575
ordinary shares to be issued pursuant to the exercising of an option by Teather
and Greenwood under the Option Deed (entered in to at the time of admission) at
1p per ordinary share.

The new ordinary shares will rank pari passu with the existing ordinary shares
of the Company. Trading is expected to commence on AIM on 10 May 2006.


Contacts:

For further information:

Leo Insurance Services plc
Larry Lipman (Executive Chairman)               020 8815 1616
Paul Davis (Finance Director)

Teather & Greenwood                             020 7426 9000
Robert Naylor / Harry Nicholas

Binns & Co. PR Ltd
Paul McManus                                    0207 786 9600


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