Rule 8.3 - Celtic Resources Holdings

Trafalgar Asset Managers Ltd.
                  

FORM 8.1/8.3

                              IRISH TAKEOVER PANEL

 Lodge with the Irish Stock Exchange (Company Announcements Office) (which will
   publicise) and the Panel. Use separate form for each class of securities in
                         which dealings have been made.

Date of Disclosure: 14 December 2007

 DISCLOSURE UNDER RULE 8.1(a), 8.1(b)(I) and 8.3 OF THE IRISH TAKEOVER PANEL ACT
                          1997, (TAKEOVER) RULES, 2001

Date of Dealing: 13 December 2007

Dealing in: Celtic Resources Holdings Plc

(1) Class of Securities (e.g. ordinary shares) CFD

(2)

-0-
*T
Amount bought               Amount sold                 Price per unit GBP
                      10,000                                        280.28
*T

(3) Resultant total of the same class owned or controlled (and percentage of
class)

1,557,381 = 2.79%

(4) Party making disclosure Trafalgar Asset Managers Limited

(5)

-0-
*T
EITHER   (a)        Name of purchaser/vendor
OR       (b)        If dealing for discretionary client(s), name of fund management
                    Organisation
                    Trafalgar Catalyst Fund
*T

(6)

-0-
*T
Reasonfor disclosure
(a)   (I)       offeror or associate of offeror          NO
      (II)      offeree or associate of offeree          NO
      Specifywhich category or categories of associate ((a)to (l) page 3/4)
      If category (l) explain Category (f)- director of possible offeror
(b)   Rule 8.3 (i.e. disclosure because of ownership or control of 1% or more of the class of
      relevant securities dealt in)                      YES
*T

Signed, for and on behalf of the party named in (4) above
___________________________

(Also print name of signatory)

Telephone and extension number 020 7534 6018