Share Capital

McInerney Holdings PLC
25 July 2000

            McInerney Holdings plc ('McInerney' or 'the Company')             
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                   Share Capital Redenominated into Euros                   
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McInerney announces that at the Company's Annual General Meeting held on 27
May 1999 a resolution was passed by shareholders to redenominate the Company's
Irish pound share capital into Euros.  The authorised and issued ordinary
shares of nominal value IR10p each were redenominated to ordinary shares of
nominal value Eur 0.125 each.  Application has been made to the UK Listing
Authority for admission to the Official List of the UK Listing Authority of
the redenominated and renominalised ordinary share capital of the Company. 
Application has also been made to the London Stock Exchange for admission to
trading of the ordinary shares.

This adjustment, which had immediate effect, did not alter the number of
listed and fully paid ordinary shares in issue and existing share certificates
continue to be valid.