Exercise of Options

29 December 2015

Lombard Risk Management plc

(the "Company")

Exercise of Options

Lombard Risk Management plc (AIM: LRM.L), a leading global provider of integrated collateral management and regulatory reporting solutions for the financial services industry, announces that as the result of the exercise of options by an employee, the Company has on 24 December 2015 issued and allotted 150,000 new ordinary shares of 0.5p each (the "New Ordinary Shares").

Application has been made for the New Ordinary Shares to be admitted to trading on AIM and it is expected that admission will take place on 5 January 2016.

The New Ordinary Shares will rank pari passu with the existing ordinary shares of the Company. In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, following this allotment the total number of ordinary shares in the capital of the Company in issue is 305,211,260. The Company currently holds 234 Ordinary Shares in treasury which do not carry voting rights and therefore the total number of voting rights in the Company is 305,211,026.

The above figure of 305,211,026 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

For further information, please contact:

Lombard Risk Management plc Tel: 020 7593 6700

Philip Crawford, Executive Chairman

Alastair Brown, CEO

Nigel Gurney, CFO

Panmure Gordon (UK) Limited Tel: 020 7886 2500

Nominated Adviser and Broker

Russell Cook

James Greenwood

Newgate Tel: 020 7653 9850

Bob Huxford

Robyn McConnachie