Renominalisation of Shares

Ormonde Mining PLC
31 July 2002

                ORMONDE MINING PLC ("Ormonde" or "the Company")


                   CHANGE IN NOMINAL VALUE OF ORDINARY SHARES




Ormonde Mining plc announces that pursuant to a resolution passed by the
shareholders at the Company's Annual General Meeting held on 25 July 2002 the
Company's share capital has been renominalised from €0.025395 to €0.025 each.



This adjustment does not alter the number of Ordinary Shares in issue and
existing share certificates continue to be valid.




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