Conversion of Securities

R.E.A.Hldgs PLC
19 December 2003


R.E.A. Holdings plc ('the Company')

Re: Conversion of 4 per cent Convertible Loan Stock 2012

Following a request from certain holders of the 4 per cent Convertible Loan
Stock 2012 ('Stock') to add an additional conversion period in respect of the
Stock, the Company has agreed that an additional conversion period will be
provided in the month of January 2004. To effect this, the Company and the
trustees have entered into a Supplemental Trust Deed.

A circular setting out the details of the conversion rights exercisable during
January 2004 is being mailed today to holders of the Stock. A copy of the
circular has been submitted to the UK Listing Authority and will shortly be
available for inspection at the Document Viewing Facility which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Tel: [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange