Conversion of Securities

R.E.A.Hldgs PLC
06 August 2003


R.E.A. Holdings plc


Exercise of Warrant Rights


The Company has received conversion notices from holders of 7,444 warrants to
convert such warrants into Ordinary Shares of 25p each in the Company subject to
the payment by the warrant holder at the rate of 73.5p per warrant. Accordingly
it has allotted 7,444 Ordinary Shares of 25p each, subject to admission of the
shares to the Official List of the UK Listing Authority and to the London Stock
Exchange's market for listed securities.


In this connection application has been made for listing of 7,444 Ordinary
Shares to the UK Listing Authority for admission to the Official List and to the
London Stock Exchange for admission to trading on its market for listed
securities. It is expected that admission will become effective and dealings
will commence in the 7,444 Ordinary Shares on 8 August 2003.






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