Exercise of options, issue of Equity and TVR

Lombard Risk Management plc

("Lombard Risk" or the "Company")

Exercise of share options, issue of equity and TVR

Lombard Risk Management plc, a leading global provider of collateral management, liquidity and regulatory reporting and compliance solutions for the financial services industry, announces that on 7 March 2012 it received notification to exercise options to acquire 500,000 ordinary shares (the "Option Shares"). The exercise price is 9p per share and the aggregate subscription price for the Option Shares has been received by the Company.

Application has been made for the Option Shares, which will rank pari passu with the Company's existing ordinary shares in issue, to be admitted to trading on AIM ("Admission"). It is expected that Admission will be effective and that dealings in the Option Shares will commence on or around 16 March 2012.

Following the issue of the Option Shares the enlarged issued share capital of the Company will be 210,809,897 ordinary shares. The Company currently holds 234 Ordinary Shares in treasury and therefore the total number of voting rights in the Company is 210,809,663. This figure 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 share capital of the Company under the Disclosure and Transparency Rules.

Contacts

Lombard Risk Management plc Tel: 020 7593 6700

www.lombardrisk.com

Philip Crawford, Chairman

John Wisbey, CEO [email protected]

Paul Tuson, CFO [email protected]

Allenby Capital Limited Tel: 020 3328 5656

Nominated Adviser and Broker

Jeremy Porter/Alex Price

Newgate Threadneedle Tel: 020 7653 9850

Graham Herring/Terry Garrett