Result of Meetings

R.E.A.Hldgs PLC
30 July 2004



R.E.A. Holdings plc ('REA') announces that the meetings of REA warrant holders
and convertible loan stock holders, the class meetings of holders of REA
preference shares and holders of REA ordinary shares and the extraordinary
general meeting of REA that were convened for 29 July 2004 for the purposes of
considering resolutions necessary to implement proposals (the 'proposals')
relating to REA preference shares as detailed in the REA circular dated 5 July
2004 were duly held. All of the resolutions set out in the notices of such
meetings were passed.

The proposals thus remain conditional only upon admission of the new 9 per cent
cumulative preference shares in the capital of REA to be issued pursuant to the
proposals being admitted to the Official List and to trading on the London Stock
Exchange's market for listed securities ('admission'). It is expected that
admission will become effective and that dealings in the new preference shares
will commence later today.

Pursuant to the proposals, 1,026,643 9 per cent cumulative preference shares in
the capital of REA ('capitalisation shares') have been allotted, subject to
admission, credited as fully paid at £1 per share to the current holders of REA
preference shares in lieu of payment of arrears of preference dividends
equivalent to 18p per preference share. A further 1,000,000 9 per cent
cumulative preference shares have been allotted, subject to admission, for cash
at £1 per share to placees procured by Canaccord Capital (Europe) Limited
('Canaccord').

Pursuant to the partial cash buy-back arrangement that formed part of the
proposals, REA will, subject to admission, buy back as treasury shares 99,345
capitalisation shares from the allottees of those shares. REA has arranged to
resell such shares to placees procured by Canaccord at a price of £1 per share.

Canaccord acted as Sponsor and Broker in relation to the proposals.



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