Director/PDMR Shareholding

NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1)  Name of company
    Lupus Capital plc

2)  Name of director
    D Mulhall

3)  Please state whether notification indicates that it is in respect
of
    holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an
    individual holder if it is a holding of that person's spouse or
children under the age of 18 or in respect of a
    non-beneficial interest.
    The shareholder named in 2 Above

4)  Name of the registered holder(s) and, if more than one holder,
the
    number of shares held by each of them (if notified)
    D Mulhall

5)  Please state whether notification relates to a person(s)
connected
    with the Director named in 2 above and identify the connected
person(s)
    -

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if
discretionary/non
    discretionary
    Purchases in the Placing and Open Offer in connection with the
acquisition of the
    Schlegel building products business

7)  Number of shares/amount of
    stock acquired
    1,950,000

8)  Percentage of issued class
    0.31%

9)  Number of shares/amount
    of stock disposed
    -

10) Percentage of issued class
    -

11) Class of security
    Ordinary shares of 0.5p

12) Price per share
    14.0p

13) Date of transaction
    4 April 2006

14) Date company informed
    6 April 2006

15) Total holding following this notification
    4,750,000

16) Total percentage holding of issued class following this
notification
    0.77%

If a director has been granted options by the company please complete
the following boxes

17) Date of grant


18) Period during which or date on which exercisable

19) Total amount paid (if any) for grant of the option

20) Description of shares or debentures involved: class, number

21) Exercise price (if fixed at time of grant) or indication that
price
    is to be fixed at time of exercise

22) Total number of shares or debentures over which options held
    following this notification

23) Any additional information
    -

24) Name of contact and telephone number for queries
    J.L. Luetchford  0207-490-4355

25) Name and signature of authorised company official responsible for
    making this notification
    J.L. Luetchford

    Date of Notification:  10 April 2006




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