Corporate Action

Kern River PLC
18 October 2000

ENTITLEMENT ISSUE
SECURITY TITLE
*Ord Shs
MNEMONIC CODE           *KRV
SEDOL CODE              *490-526
TERMS                   *1 New Ordinary Share for each existing Ordinary 
                         Share held at 25p.
EX DATE                 *18-10-00
RECORD DATE             *10-10-00
SPLITTING APPLICATION FORMS *06-11-00 3:00pm
RECEIPT OF APPLICATION FORMS *08-11-00 3:00pm
DEALING COMMENCE NEW SHARES *15-11-00
NOTES *