Notification of Interest

Celtic Resources Holdings PLC
21 July 2003



                 Celtic Resources Holdings plc (the "Company")


                               Additional Listing

                                      and

                            Notification of Interest



Application has been made for 701,723 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 at an
exercise price of Stg£1.60 per share for 700,000 shares and Stg£2 per share for
1,723 shares. 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 25
July 2003.

The Company was notified on 17 July 2003 by RAB Capital Limited that following 
the exercise of warrants on 17 July 2003 they held 1,350,000 ordinary shares 
which represent 4.3% per cent. of the total increased issued ordinary share 
capital of the Company. RAB Capital Limited acts as investment manager for a 
number of co-mingled funds. It does not act as custodian for its clients and 
therefore the shares are held in the nominee name of the custodian for its 
clients, Morstan Nominees Limited.








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