Director Shareholding

Celtic Resources Holdings PLC
16 August 2001



          Celtic Resources Holdings plc ('Celtic' or 'the Company')

                   Notification of Interests of Directors'



Celtic hereby notifies the interests in Celtic Ordinary Shares of nominal
value Euro0.025 each ('the Ordinary Shares') of newly appointed directors of
the Company and also notifies certain changes in the interests in Celtic
Ordinary Shares of existing directors of Celtic:



New Directors

The following three directors, each of whose appointments to the board of
Celtic became effective on 23rd July, 2001 following the receipt of
Shareholder approval at the Annual General Meeting of the Company of that date
('the AGM'), have the following interests in the capital of Celtic:

On his appointment, Euan Worthington held in aggregate warrants over 281,250
Ordinary Shares, of which 187,500 were exercisable at Stg8p per share and
expire on 31st October, 2001 and the balance were exercisable at Stg10p per
share and expire on 31st December, 2002, and all of which were granted,
pursuant to his participation in a placing announced on 14th June, 2001 and
further to allotment authority approved by Shareholders at the AGM. Mr
Worthington exercised warrants over 187,500 shares at Stg8p on 6th August,
2001 and now holds 187,500 Ordinary Shares representing 0.13% of the current
issued share capital of the Company. He continues to hold warrants over 93,750
Ordinary Shares which are exercisable at Stg10p per share and expire on 31st
December, 2002.

Neil McDermott, was, on his appointment, interested in 10,854,700 Ordinary
Shares representing 8.82% of the then issued share capital of the Company and
7.77% of the current issued share capital of the Company. In addition Mr.
McDermott has been granted warrants over 5,427,350 Ordinary Shares exercisable
at Euro16.25 cents per share and expiring on 31st December, 2002. These
warrants have been granted, pursuant to Mr. McDermott's participation in a
placing announced on 11th April, 2001 and further to allotment authority
approved by Shareholders at the AGM. The interests of Mr. McDermott are
registered in the name of Davy Nominees Limited.

Michael Palmer, was, on his appointment, interested in 1,606,383 Ordinary
Shares representing 1.31% of the then issued share capital of the Company and
warrants over an additional 35,461 Ordinary Shares exercisable at Stg15p per
share and expiring on 31st December, 2001. In addition Mr. Palmer has been
granted warrants over 168,750 Ordinary Shares, of which 112,500 are
exercisable at Stg8p per share and expire on 31st October, 2001 and the
balance are exercisable at Stg10p per share and expire on 31st December, 2002,
and all of which were granted pursuant to his participation in a placing
announced on 14th June, 2001 and further to allotment authority approved by
Shareholders at the AGM. The warrants over 112,500 shares at Stg8p were
exercised on 6th August 2001, bringing Mr. Palmer's total interest in Ordinary
Shares to 1,718,883 representing 1.23% of the current issued share capital of
the Company. Of the Ordinary Shares in which Mr. Palmer is interested,
1,500,000 are held in the name of Pershing Keen Nominees and the balance of
his interest in Ordinary Shares and warrants is registered in the name of
Gnomees Limited.



Existing Directors

Kevin Foo's existing interest in the share capital of Celtic comprised
17,481,908 Ordinary Shares representing 12.51% of the current issued share
capital of the Company and warrants over 3,060,386 Ordinary Shares, of which
3,000,000 are exercisable at Stg15.63p per share and expire on 30th June, 2003
and the balance are exercisable at Stg15p per share and expire on 31st
December, 2001. Mr. Foo acquired an additional 1,080,000 Ordinary Shares under
the terms of the Staff Share Scheme approved at the AGM and has also been
granted warrants over in aggregate 18,750 Ordinary Shares, of which 12,500 are
exercisable at Stg8p per share and expire on 31st October, 2001 and the
balance are exercisable at Stg10p per share and expire on 31st December, 2002,
and all of which were granted pursuant to his participation in a placing
announced on 14th June and further to allotment authority approved by
Shareholders at the AGM. The warrants over 12,500 Ordinary Shares were
exercised on 15th August 2001, bringing Mr. Foo's total interest in Ordinary
Shares to 18,574,408 representing 13.30% of the current issued share capital
of the Company.

Michael Kaufman's existing interest in the share capital of Celtic comprised
1,717,391 Ordinary Shares representing 1.23% of the current issued share
capital of the Company and warrants over 72,464 Ordinary Shares exercisable at
Stg15p per share and expiring on 31st December, 2001. Mr. Kaufman acquired an
additional 143,000 Ordinary Shares under the terms of the Staff Share Scheme
approved at the AGM and has also been granted warrants over in aggregate
18,750 Ordinary Shares, of which 12,500 are exercisable at Stg8p per share and
expire on 31st October, 2001 with the balance exercisable at Stg10p per share
and expiring on 31st December, 2002 and all of which were granted pursuant to
his participation in a placing announced on 14th June and further to allotment
authority approved by Shareholders at the AGM. The warrants over 12,500
Ordinary Shares were exercised on 15th August 2001, bringing Mr. Kaufman's
total interest in Ordinary Shares to 1,872,891 representing 1.34% of the
current issued share capital of the Company.

Michael Nesbitt's existing interest in the share capital of the Company
comprised 51,332 Ordinary Shares representing 0.36% of the current issued
share capital of the Company and options over in aggregate 285,000 Ordinary
Shares all of which are exercisable at IR10p per share and 175,000 of which
expire on 14th September, 2005 with the balance expiring on 20th June, 2006.
Mr. Nesbitt acquired an additional 100,000 Ordinary Shares under the terms of
the Staff Share Scheme approved at the AGM, bringing Mr. Nesbitt's total
interest in Ordinary Shares to 151,332 representing 0.11% of the current
issued share capital of the Company.



Enquiries:

Joan Bingley, Company Secretary

Tel: + 44 207 5930001



16 August, 2001

END