Director Shareholding

Independent Resources plc ("IRG" or the "Company")

                                   Issue of consideration shares

                                       Director shareholding

The  Company announces that, pursuant to an agreement dated 19 July 2005, the Company  has  issued
862,376 ordinary shares in aggregate to Grayson Nash, LLC and GA.I.A. srl. These shares relate  to
the  acquisition of Independent Gas Management srl by IRG in 2005, as disclosed in  the  Company's
admission document.

As  a  result of the issue, Grayson Nash (Executive Chairman), who controls Grayson Nash, LLC  and
Roberto  Bencini (Technical Director), who controls GA.I.A. srl, have the following  interests  in
the Company's shares:

Director                                                  Holding        % of issued share capital
Grayson Nash                                            6,526,538                           15.70%
Roberto Bencini                                         6,056,188                           14.57%

These  shares,  which  will be issued fully paid, will rank pari passu in all  respects  with  the
existing ordinary shares of the Company.

Admission of the shares to trading on AIM will occur on 12 December 2008.

As  a  result of the issue, the total number of voting rights as at 12 December 2008 will increase
to  41,573,867. This figure should be used by shareholders as the denominator for the calculations
by  which  they will determine if they are required to notify their interest in, or  a  change  to
their interest in the Company, under the FSA's Disclosure and Transparency Rules.

For further information contact:

Tim James                                         00 39 06 45 49 07 20
Independent Resources plc
David Smith                                       020 7936 3000
Deloitte Corporate Finance (Nomad)

Independent Resources plc