Issue of Equity

Billam PLC
22 March 2005


                                   Billam Plc


Issue of Equity

Billam announces that it has issued 320 new ordinary shares of 10 pence each at
a price of 18 pence per share to make the issued share capital exactly divisible
by 500. The placing will raise a total of £57.60. These new Ordinary shares have
been placed with clients of KBC Peel Hunt Limited.

Application has been made for these new ordinary shares to be admitted to AIM
and trading is expected to commence at 8.00 a.m. on 29 March 2005.

Enquiries:

Billam Plc 020 7336 1300
Angus Forrest

Bishopsgate Communications 020 7490 1600
Maxine Barnes / Dominic Barretto




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