Additional Listing

Celtic Resources Holdings PLC
24 December 2003



                 Celtic Resources Holdings plc (the "Company")

                               Additional Listing

Application has been made for 30,485 new ordinary shares of Euro 0.25 each to be
admitted to trading on the Alternative Investment Market of the London Stock
Exchange. These shares are being issued following the exercise of warrants:

2,297 exercised at £1.00
28,188 exercised at £1.10

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 5 January 2003.


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