Issue of Equity

Billam PLC
05 August 2003


                                   BILLAM PLC

                                ISSUE OF EQUITY


Billam announces that it has issued 200,000,000 new ordinary shares of 0.1 pence
each at a price of 0.18 pence per share to raise a total of £360,000. These new
ordinary shares have been placed with private investors and the proceeds will be
used by Billam for working capital and to make further investments.

All these new ordinary shares are expected to be admitted to AIM and to commence
trading at 8.00 a.m. on Friday, 8 August 2003.


Enquiries:

Billam Plc                              020 7336 1300
Angus Forrest
Peter Hoskins


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