Director Shareholding

Kern River PLC
15 November 2000

Kern River plc

Directors' shareholdings

The Placing and Open Offer described in the prospectus dated 18 October 2000
has been completed with the admission to trading on AIM today of the
11,500,000 new Ordinary Shares. As described in the prospectus Stuart
Bickerstaff' became non-executive chairman of the Company on completion of the
Placing and Open Offer.

Neville A Brown and Colin Weaver, two non-executive directors of the Company,
and Stuart Bickerstaff acquired shares in the Placing and in the Open Offer as
follows:


                                                               S W   N A   C R
                                                       Bickerstaff Brown Weaver

Number of Ordinary Shares taken up in the Open Offer             - 10,000 30,000
                                                           916,124 15,268 15,268

Number of Ordinary Shares acquired in the Placing
                                                         1,616,769 40,696 80,696

Total number of Ordinary Shares held following
completion of the Placing and Open Offer
                                                             7.03% 0.18%  0.35%

Total number of Ordinary Shares held as % of the
number in issue following completion of the Placing
and Open Offer

15 November 2000

For further information please contact:

Kern River plc

Stuart Bickerstaff, Non-executive chairman

(via Marshall Securities Limited)        020 7490 3788
Marshall Securities Limited

Robert Luetchford/John Webb              020 7490 3788