Corporate Action

Glencar Mining PLC
3 July 2000

RIGHTS ISSUE
SECURITY TITLE
*Ord IEP0.025
MNEMONIC CODE       *GCM
SEDOL CODE          *372-538
TERMS               *1 New Ordinary Share for every 2 Ordinary Shares held 
                     at 12p(EUR0.19).
DEALINGS COMMENCE NIL PAID *04-07-00
PROVISIONAL EX DATE *04-07-00
RECORD DATE         *26-06-00
SPLITTING NIL PAID  *22-07-00 3.00p.m.
ACCEPTANCE DATE     *24-07-00 3.00p.m.
SPLITTING FULLY PAID *14-08-00 3.00p.m.
RENUNCIATION        *16-08-00 3.00p.m.
NOTES *