Re: Resolution

FBD Holdings PLC
11 March 2004

FBD Holdings plc





11th March 2004





RE: Resolution







I confirm that the following Resolution was passed at a Board Meeting of this
Company held on 2nd March 2004.



'To issue 427,900   €0.60 ordinary shares to be dealt in the Official List to
enable Executives in the Company exercise share options which have been allotted
within the terms of the existing approved Share Options Scheme'.



The above is a true extract from the Minutes.





Yours faithfully,





_______________

David J. Flynn

Secretary



4th March 2004



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