Holding(s) in Company

Celtic Resources Holdings PLC
22 May 2003


                                        CELTIC RESOURCES HOLDINGS PLC

                                          Substantial shareholding


The Company was notified by GNI Limited on 22 May 2003 that as at close of business 21 May 2003 they held 916,800 
ordinary shares which represents 3.04 per cent. of the total issued ordinary share capital of the Company.


Enquiries:

Kate Dexter Smith                                                     Cindy Dennis
Celtic Resources Holdings Plc                                         Capital PR, London
Tel: + 44 (0) 20 7593 0001                                            Tel: [phone]
[e-mail]                                [e-mail]




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