Conversion of Securities

R.E.A.Hldgs PLC
09 July 2004



REA Holdings plc ('the Company')

Conversion Notice

The Company has received conversion notices from holders of £273,006 nominal of
the 4 per cent. Convertible Loan Stock 2012 ('Stock'). Accordingly it has
allotted 515,105 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 515,105 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 515,105 Ordinary Shares on 14 July 2004.




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