Transaction Update

LEPCO plc
24 April 2001

                          LEPCO plc ('The Company')

Further to the Company's announcement on 20 April of the termination of
negotiations between the Company and DNO ASA, the Company now announces that
the directors are in discussions concerning the Company's financial situation
with major shareholders.

Pending clarification of the Company's financial position, the Company's
shares will remain suspended from trading on AIM. A further announcement will
be made as soon as possible.






24 April 2001