Additional Listing

Celtic Resources Holdings PLC
09 December 2002



                 Celtic Resources Holdings plc (the "Company")

                  Additional Listing and allotment to director


Application has been made for 342,327 new ordinary shares of €0.25 each to be
admitted to trading on the Alternative Investment Market of the London Stock
Exchange.  These shares are being issued in settlement of amounts due to staff,
consultants and advisers for remuneration and fees at prices ranging from £Stg 1
to £Stg 1.35 per share.  One of these payments is to Gallagher & Co., a firm in
which one of the directors Michael Palmer is a partner, and his interest in the
Company is thereby increased by the issue of 1,304 shares at £Stg 1.35 per share
to 194,044 representing 0.71% of the Company's issued share capital.


These shares will rank pari passu with existing ordinary shares and dealings are
expected to commence in the new ordinary shares at 8.00am on 13 December 2002.


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