Exercise of Warrant Rights

R.E.A.Hldgs PLC
11 August 2004


R.E.A. HOLDINGS PLC (the 'company')


Exercise of Warrant Rights

The company has received notices from holders of 65,300 warrants exercising the
rights attaching to those warrants. Holders of 62,445 warrants have elected to
subscribe 62,455 ordinary shares of 25p each of the company at the warrant
subscription price of 73.5p share and one holder of 2,855 warrants has elected
to convert 2,099 9 per cent cumulative preference shares of £1 each of the
company into 2,855 ordinary shares of 25p each. Accordingly the company has
allotted 65,300 ordinary shares of 25p each, subject to admission of those
shares to the Official List of the UK Listing Authority and to trading on the
London Stock Exchange's market for listed securities.

In this connection application is being made for the 65,300 new ordinary shares
to be admitted to the Official List of the UK Listing Authority and to trading
on London Stock Exchange's market for listed securities. It is expected that
admission will become effective on 17th August 2004 and that dealings in the new
ordinary shares will commence on that date.




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