Re Directorate

Celtic Resources Holdings PLC
3 January 2001


   CELTIC RESOURCES HOLDINGS PLC ('Celtic' or 'the Company')


Celtic hereby announces that Dr. Oliver Waldron has resigned from the position
of non-executive director and Chairman of the board of Celtic with effect from
31 December, 2000. 

Mr. Kevin Foo, Managing Director, will temporarily assume the role of Chairman
pending a new appointment to the board of the Company.


For further information:

Eugenee Mulhern
Davy Corporate Finance Limited
00 353 1 6796363