Cancellation of Options

BowLeven Plc
05 April 2006

5 April 2006


                BowLeven Plc ('the Company' or 'BowLeven')

                          Cancellation of Options


Following the announcement on 28 March 2006 of the issue of new share options
and rebasing of existing share options, the Board of BowLeven has cancelled the
rebasing of the existing share options to existing employees of the Company and
the issue of new share options to existing employees. However, the issue of new
share options to the new employees who joined after 1 January 2006 will remain
in place.

Therefore the only options to be issued as announced on 28 March 2006 are over
285,000 ordinary shares of 10 pence each in the Company (17,143 approved options
and 267,857 unapproved options) to Jerry Anthony, the new Exploration Director,
and a total of 34,286 approved options and 246,964 unapproved options to new
employees of the Company following their recent joining of the Company. These
options have an exercise price of 175 pence per ordinary share

There are a total of 1,669,235 options, representing 5.6% of the issued share
capital, in issue to directors and employees over the ordinary shares of the
Company following this amendment.



For further information contact:

Terry Heneaghan, Executive Chairman, BowLeven Plc        0131 260 5100

Adam Westcott, Noble & Company Limited                   0131 225 9677

Liz Morley, Maitland                                     020 7379 5151



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