Issue of Equity

Gresham House PLC
06 May 2003


Gresham House plc
36 Elder Street, London E1 6BT


Gresham House plc - Exercise of options

Gresham House plc announces that following the exercise of options on 2nd May,
2003 under the Company's Unapproved Share Option Scheme, it has issued a further
10,000 Ordinary Shares of 25p each at 25p.

Application is being made to the UK Listing Authority for these 10,000 New
Ordinary Shares to be listed on the Official List of the London Stock Exchange
and it is hoped that dealings in these shares can begin on Monday 19th May,
2003.

Enquiries:

B J Hallett
Gresham House plc        020 7588 7352

6th May, 2003


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