Issue of Equity

Dinkie Heel PLC
01 September 2004


                                Dinkie Heel plc

                                Issue of Equity

Dinkie Heel plc (the 'Company') announces that, further to the issue to all
shareholders of warrants to subscribe for further ordinary shares at a price of
2p per ordinary share in the Company as described in the circular to
shareholders dated 26 March 2004, certain shareholders have exercised warrants.

Consequently, application has been made to the London Stock Exchange for the
admission of the further ordinary shares issued pursuant to the exercised
warrants, numbering 50,530, to trading on AIM.  This represents 0.04 per cent.
of the issued ordinary share capital of the Company.  As a result, the Concert
Party (as described in the circular to shareholders dated 26 March 2004) holds
56.84 per cent. of the issued ordinary share capital of the Company.

Admission is expected to take place on 6 September 2004.


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