Issue of Equity

Asia Energy PLC
08 October 2004

                                ASIA ENERGY PLC

                                ISSUE OF EQUITY

8th October 2004



Asia Energy plc ('the Company'), the 100% owner of the Phulbari Energy Project
in north-west Bangladesh, announces that following the exercise of existing
options held by various people it has today issued and allotted 80,000 new
Ordinary shares of 10p each at a price of 75p.



The new ordinary shares will rank pari passu with the existing Ordinary Shares
of 10p each in the Company and trading of these shares on AIM is expected to
commence on 15th October 2004.



The total number of Ordinary Shares in issue following this issue is 37,927,638.


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