Subsidiary Share Capital

R.E.A.Hldgs PLC
27 November 2003


R.E.A Holdings plc

Following a rights issue of Makassar Investments Limited ('Makassar'), R.E.A.
Holdings plc ('the company') has increased its holding and that of its
subsidiary Makassar Participation plc to 30,364 Ordinary Shares in Makassar,
representing 87.74% of the total issued Ordinary Share capital at 25 November
2003 of 34,606 Ordinary Shares.

As a result of this increased holding of Ordinary Shares and together with its
other shareholdings in Makassar, the company's total interest in the voting
share capital of Makassar has increased from 84.72% to 89.9%.


Dated: 27 November 2003


                      This information is provided by RNS
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