Results of EGM and AGM

LEPCO plc
18 October 2002

                                   LEPCO plc

                       to be renamed Sterling Energy plc

                             Results of EGM and AGM


LEPCO plc ('the Company') is delighted to announce that all the resolutions
proposed at the Company's AGM and EGM held this morning were unanimously passed.


In particular, subject to admission of the new ordinary shares to trading on
AIM, the acquisition of Sterling Energy Limited for up to £7.9m, payable in
shares, and the raising of additional working capital of £2.4million (before
expenses) via a Placing and Open Offer have been approved.


The consideration shares comprise 157,000,000 initial consideration shares and
up to 40,000,000 deferred consideration shares while a total of 60,339,649 new
ordinary shares are being issued under the Placing and Open Offer. The take-up
under the Placing and Open Offer amounted 57.6 per cent. of available shares
(including 3.5 per cent. of available shares under the Open Offer); certain
shareholders who were eligible to participate under the Open Offer took up part
or all of their entitlement as part of the Placing. It is anticipated that the
enlarged group, comprising 262,882,382 issued ordinary shares of 1p each in the
Company (excluding any deferred consideration shares), will be admitted to
trading on AIM on Monday 21 October 2002.


LEPCO plc is to be renamed Sterling Energy plc.


18 October, 2002



For further information contact:


Harry Wilson, Chief Executive, Sterling Energy plc:          01582 462121

Graeme Thomson, Finance Director, Sterling Energy plc:       01582 462121



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