EGM Result Announcement

Providence Resources PLC
29 April 2004


                          Providence Resources P.l.c.
                    RESULT OF EXTRAORDINARY GENERAL MEETING
                       RIGHTS ISSUE UNDERWRITTEN BY DAVY

Providence Resources plc ('Providence' or 'the Company') is pleased to announce
that the resolution proposed for consideration at the Extraordinary General
Meeting ('EGM') of the Company convened for 10.00 a.m. today, 29 April, 2004,
has been approved.

This approval now facilitates the completion of the issue of 338,333,333 new
Ordinary Shares at a price of €0.03 per share, and 84,583,333 Warrants, with an
exercise price of €0.045 each, as announced on 29 March, 2004 ('Subscription').

In accordance with its terms, payment for the new Ordinary Shares under the
Subscription, being in aggregate €10.15 million, is now due on 4 May, 2004.

The passing of the resolution at the EGM also represents satisfaction of a
condition precedent of implementation of a rights issue (also announced on 29
March, 2004) which is being implemented in order to ensure that all shareholders
are afforded an opportunity to invest in the Company on the same terms as those
availed of by the participants in the Subscription. It is expected that a rights
issue document will be posted to shareholders tomorrow, 30 April, 2004 and that
the Rights Issue Units (which will each comprise 4 new Ordinary Shares at a
price of €0.03 each, and 1 warrant with an exercise price of €0.45 each) will be
admitted to dealing on the Exploration Securities Market of the Irish Stock
Exchange on 4 May, 2004.

Providence also announces that its newly appointed broker, Davy has agreed to
underwrite all of the Rights Issue in respect of which irrevocable participation
commitments are not in place, being approximately 46.6% of the Rights Issue. Sir
Anthony O'Reilly is participating in the Rights Issue in respect of his full
entitlement (being approximately 52.8% of the Rights Issue) and each of the
Directors have also undertaken to participate in respect of their full
respective entitlements (being in aggregate approximately 0.6% of the Rights
Issue).

A further announcement will be made in due course in relation to the issue of
the rights issue document and the details of the timetable for the rights Issue.

Ends.           Thursday, 29th April 2004

For Reference:
Providence Resources P.l.c.             Murray Consultants
Stephen Carroll/ Tony Odone             Pauline McAlester
Tel: [phone]                   Tel: [phone]




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