Donegal Investment Group plc (“Donegal Investment Group” or the “Company”) 5 September 2014 Grant of Share Options & Treasury Shares Ian Ireland, Managing Director of Donegal Investment Group, has on 2 September 2014 been granted options exercisable over 40,000 ordinary shares of nominal value €0.13 each at an exercise price of €5.95 per share, exercisable between the third anniversary of the date of grant and the seventh anniversary of the date of grant. Following this grant of options, Ian Ireland's shareholding stands at 142,000 ordinary shares of €0.13 each, representing circa 1.38% of the issued share capital of the Company and he is the beneficial owner of 220,000 share options. Padraic Lenehan, Finance Director and Company Secretary, of Donegal Investment Group, has on 1 September 2014 been granted options exercisable over 30,000 ordinary shares of nominal value €0.13 each at an exercise price of €5.95 per share, exercisable between the third anniversary of the date of grant and the seventh anniversary of the date of grant. Post this grant of options, Padraic Lenehan is the beneficial owner of 60,000 share options. The Company has total shares in issue of 10,285,590 Ordinary Shares of which 7,611 are held as Treasury Shares following the exercise of 12,000 share options during August 2014. Enquiries: Donegal Investment Group Ian Ireland, Managing Director Telephone: + 353 74 912 1766 Investec Jonathan Simmons, Director Telephone: + 353 1 421 0000