Director/PDMR Shareholding

Lupus Capital plc

Issue of shares to directors

Mr Michael Jackson  and Mr  Roland Tate  have both  agreed to  accept
shares in  relation  to  their  annual fees  for  their  services  as
non-executive directors, thus aligning their interests with those  of
all shareholders.

The company confirms that it has issued for cash 158,730 shares to Mr
Jackson and 133,333 shares to Mr Tate, on 17 November 2006, at 15.75p
per share.  As a consequence,  the company has 616,559,778 shares  in
issue.

Mr Jackson held 700,000 shares in the company at the time of becoming
a director on 17 November 2006 and the increase described above takes
his holding to 858,730 shares (0.14%).

Mr Tate now holds 596,417 shares in the company (0.1%).

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