Additional Listing

Celtic Resources Holdings PLC
23 February 2004


                 Celtic Resources Holdings plc (the "Company")

                               Additional Listing

Application has been made for 2,648 new ordinary shares of Euro 0.25 each to be
admitted to trading on the Alternative Investment Market of the London Stock
Exchange. These shares are being issued following the exercise of warrants:

1,148 exercised at £2.00
1,500 exercised at £1.40

These shares will rank pari passu with existing ordinary shares and dealings are
expected to commence in the new ordinary shares at 8.00am on 27 February 2004 .



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