Issue of Equity

    Lennox Holdings PLC

                    Exercise of Warrants and Issue of Equity

18 January 2008

Lennox Holdings PLC (the 'Company') today announces the issue of 80,000 ordinary
1p shares pursuant to an exercise of warrants.

Following the allotment of the 80,000 new ordinary shares, the Company will have
27,654,652* ordinary shares in issue.

Application has been made for the new ordinary shares to be admitted to  trading
on AIM on 24 January 2008.

*Of  the  27,574,652  ordinary shares of 1p each,  5,704,108  shares  have  been
surrendered  to the Company pursuant to the terms of 5 deeds of agreement,  each
dated 20 June 2006, in compromise and settlement of various claims and disputes.

Of  the  5,704,108  ordinary  shares which have been  surrendered,  the  Company
considers that 3,779,107 ordinary shares cannot be considered to have been fully
paid, and that in consequence the sanction of the High Court of Justice must  be
sought and obtained in order that the capital of the Company might be reduced to
this extent.

As  to  the  remaining 1,925,001 surrendered ordinary shares, these shares  were
fully  paid  up.  Whilst the shares were not purchased by  the  Company  out  of
distributable profits in accordance with s. 162 of the Companies Act  1985,  the
Company  considers  that the shares are available to be allotted  in  accordance
with  the provisions of the Company's articles of association. However, for  the
sake  of good order it is the Company's intention that these shares should  also
be cancelled in the reduction exercise identified above.



Enquiries:

Nicholas Nelson                          [phone]
Nexus Financial Limited

Ian Fenn                                 [phone]
Blomfield Corporate Finance Limited