Exercise of Warrant Rights

R.E.A.Hldgs PLC
10 August 2000


Following receipt of a valid notice of exercise of warrant rights on 31July
2000 from one warrant holder, who has elected to subscribe for 28 ordinary
shares the directors have resolved that 28 shares be allotted to the said
warrant holder warrant holder on 11 August 2000.

Following such allotment the company will have in issue 9,184,645 ordinary
shares of £1 each.