Share Placing Announcement

Ryanair Holdings PLC
8 February 2002

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

RYANAIR PLACING RAISES €162.50 MILLION AT A PRICE OF €6.25 PER ORDINARY SHARE

DUBLIN (February 8, 2002) Ryanair Holdings plc ('Ryanair') announced today that
it has placed an aggregate of 26 million ordinary shares at a price of €6.25 
per ordinary share to raise gross proceeds of €162.50 million.


Welcoming the successful completion of the offering, Ryanair, Chief Executive,
Michael O'Leary said:


        'The offer was heavily over subscribed, which reflects Ryanair's strong
        growth model, disciplined cost management and our exceptional aircraft
        partnership with the Boeing company, which will enable Ryanair to grow
        to be Europe's largest international airline over the next eight years.

        'This has been a tremendously successful offer during a week of very
        turbulent markets, and shows that investors will continue to support
        companies with strong management and exceptional growth prospects here
        in Europe. I want to thank all of our current and new shareholders for
        their support. We are determined to deliver them superior returns.'

Application has been made to the Irish Stock Exchange and to the UK Listing
Authority for the ordinary shares to be admitted to the Official List of the
Irish Stock Exchange and the Official List of the UK Listing Authority.
Application has also been made to the London Stock Exchange for such shares to
be admitted to trading and the closing of the placing is expected to take place
on February 13, 2002.

The placement agents have been granted an over-allotment option to purchase from
Ryanair up to an additional 4 million ordinary shares at a price of €6.25 
per ordinary share within 30 days of the pricing of the offering.

Morgan Stanley Securities Limited and Davy Stockbrokers are acting as joint lead
managers of the offering and Goldman Sachs is acting as a co-lead manager.

The offering has been directed at both existing and new institutional investors
in Ireland, the United Kingdom and other EU member states. The ordinary shares
have been offered and sold outside the United States in reliance on Regulation S
under the U.S. Securities Act of 1933. The ordinary shares have not been, and
will not be, registered under the Securities Act, and no offers or sales of the
shares may be made in the U.S. or to U.S. persons.

This announcement has been prepared by and is the sole responsibility of Ryanair
Holdings plc (the 'Company') and has been approved by Morgan Stanley Securities
Limited ('Morgan Stanley') solely for the purposes of section 21 of the
Financial Services and Markets Act of 2000 of the United Kingdom. Morgan Stanley
is acting for the Company and no one else and will not be responsible for
providing to any other person the protections afforded to clients of Morgan
Stanley or for providing advice in relation to the offering. Morgan Stanley can
be contacted at 25 Cabot Square, Canary Wharf, London E14 4QA, United Kingdom.
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.



Ends.                                        Friday, 8th February 2002

For further information please contact:      Howard Millar


                                        Ryanair Holdings plc

                                        Tel: + 353 1 812 12 12

                                        Pauline McAlester

                                        Murray Consultants

                                        Tel: + 353 1 663 33 32


                      This information is provided by RNS
            The company news service from the London Stock Exchange