Share Option

Caldwell Investments PLC
02 August 2004




COMPANY NUMBER 269566


                          CALDWELL INVESTMENTS P.L.C.


Caldwell Investments PLC announce that 100,000 Shares have been allotted to
Walburga Dziura as per the Share Option Agreement dated 1st December 2000.



G. Haselden
Finance Director


2nd August 2004





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