Corporate Action

Ryanair Holdings PLC
4 December 2001

SUB-DIVISION
SECURITY TITLE
*Ord Eur0.0254
MNEMONIC CODE           *RYA
SEDOL CODE              *115-175
TERMS                   *Each Ordinary Share of Eur0.0254 will be subdivided    
                         into 2 Ordinary shares of Eur0.0127
PROVISIONAL EFFECTIVE DATE *07-12-01
RECORD DATE             *06-12-01
NOTES *