Fthr re Issue of Equity

Ryanair Holdings PLC
12 February 2001




       NOT TO BE RELEASED IN OR INTO THE UNITED STATES, CANADA OR JAPAN

                       RYANAIR HOLDINGS PLC ('Ryanair')

                              PLACING OF SHARES

DUBLIN (February 12, 2001) further to the announcement on February 9, 2001,
Ryanair today announces due to strong demand (the offer was more than four
times oversubscribed), that the placement agents have exercised their
over-allotment option in full. Accordingly, Ryanair will issue an additional 1
million ordinary shares at Euro11.60 per share and Michael O'Leary, Ryanair's
CEO, will sell an additional 1 million ordinary shares at Euro11.60 per share.
Following this sale, Mr O'Leary will hold 26 million ordinary shares in the
issued share capital of Ryanair representing 7.16% of the issued ordinary
shares.

Application will be made to the Irish Stock Exchange and to the UK Listing
Authority for 1 million ordinary shares to be admitted to the Official List of
the Irish Stock Exchange and the Official List of the UK Listing Authority.
Application will also be made to the London Stock Exchange for such shares to
be admitted to trading and closing is expected to take place on February 14,
2001.

This announcement has been issued by and is the sole responsibility of Ryanair
Holdings plc (the 'Company ') and has been approved solely for the purposes of
section 57 of the Financial Services Act 1986 by Morgan Stanley & Co.
International Limited (' Morgan Stanley'), which is regulated in the United
Kingdom by The Securities and Futures Authority Limited. Morgan Stanley has
been advising the Company and Mr. O'Leary in relation to the offering and no
one else and will not be responsible to anyone other than the Company for
providing the protection afforded to customers of Morgan Stanley nor for
providing advice in relation to the offering. Stabilisation/FSA.

This announcement is not for publication or distribution or release in the
United States of America ( including its territories and possessions, any
State of the United States and the District of Columbia). This announcement
does not constitute or form part of an offer or solicitation of an offer to
purchase or subscribe for securities in the United States or any other
jurisdiction. The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States or to or for the benefit of U.S.
persons, except pursuant to an available exemption from registration. No
public offering of securities is being made in the United States.



For further information please contact:

Michael Cawley

Ryanair Holdings plc

Tel: + 353 1 812 12 12

Pauline McAlester

Murray Consultants

Tel: + 353 1 663 33 32