Issue of Equity

29 November 2013

Lombard Risk Management plc

(the "Company")

Exercise of Options

Lombard Risk Management plc (AIM: LRM.L), a leading global provider of collateral management, liquidity and regulatory reporting and compliance solutions for the financial services industry, announces that as the result of the exercise of options by an employee, the Company has today issued and allotted 200,000 new ordinary shares 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 December 2013.

The New Ordinary Shares will rank pari passu with the existing 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 262,366,260. 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 262,366,026.

The above figure of 262,366,026 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

John Wisbey, CEO [email protected]

Paul Tuson, CFO [email protected]

Charles Stanley Securities Tel: 020 7149 6000

Nominated Adviser and Broker

Russell Cook / Carl Holmes

Newgate Threadneedle Tel: 020 7653 9850

Graham Herring / Robyn McConnachie