Share Split

Ryanair Holdings PLC 3 December 2001 RYANAIR HOLDINGS PLC ANNOUNCES STOCK SPLIT The Directors of Ryanair Holdings plc have resolved to implement the sub-division of the Company's Ordinary Shares of Euro0.0254 into Ordinary Shares of Euro0.0127 (the 'Stock Split') which was approved by the shareholders at the Annual General Meeting of the Company held on 25 September 2001. The Stock Split is intended to increase the liquidity and marketability of the stock by reducing the absolute price per share. The Stock Split is expected to become effective on Friday 7 December 2001. Following the Stock Split, shareholders will own two Ordinary Shares in the Company for each one Ordinary Share they owned as at the record date (close of business on Thursday December 6, 2001). Subject to market movements, it is expected that the price of each sub-divided Ordinary Share on the Irish Stock Exchange and the London Stock Exchange ('the Stock Exchanges'), on the day the Stock Split becomes effective, will be one half of the price of an Ordinary Share on the Stock Exchanges prior to the Stock Split. The Company's authorised ordinary share capital prior to the Stock Split will be Euro10,668,000 divided into 420,000,000 Ordinary Shares of Euro0.0254 each and the Company's issued ordinary share capital will be Euro9,198,814.3 divided into 362,659,884 Ordinary Shares of Euro0.0254 each (this figure includes the number of shares listed under block listing procedures and not yet allotted). Following the Stock Split, the total value of the authorised ordinary share capital of the Company will remain at Euro10,668,000, but will be divided into 840,000,000 Ordinary Shares of Euro0.0127 each and the total value of the issued ordinary share capital of the Company will similarly remain at Euro9,211,561.1 but will be divided into 725,319,768 Ordinary Shares of Euro0.0127 each (this figure includes the shares listed under block listing procedures but not yet allotted). The Stock Split will not result in new Ordinary Shares being issued by the Company or becoming available in whole or in part to the public. The Ordinary Shares created pursuant to the Stock Split will carry the same rights in all respects as the Ordinary Shares in existence prior to the Stock Split, including full voting rights and rights to participate in any dividend of the Company and in any surplus on a winding up, and will be transferable in the same manner as Ordinary Shares in existence prior to the Stock Split. The Ordinary Shares created pursuant to the Stock Split will be in registered form and may be held in certificated or uncertificated form. Application has been made to the Stock Exchanges for admission of the sub-divided Ordinary Shares to the Official List of the Irish Stock Exchange and the Official List of the UK Listing Authority and to the London Stock Exchange for such shares to be admitted to trading. The last day of dealings in the Ordinary Shares of Euro0.0254 each will be Thursday December 6, 2001 and the effective date for dealings to commence sub-divided Ordinary Shares of Euro0.0127 each will be Friday December 7, 2001. The Company's stock has been issued a new ISIN. New share certificates, reflecting the sub-divided Ordinary Shares and the new ISIN, will be issued to Ryanair shareholders as a replacement for their existing share certificates no later than Wednesday December 12, 2001. Accordingly, existing share certificates will cease to be valid on Thursday December 6, 2001. The Company's Registrars are Capita Corporate Registrars Plc, P.O. Box 7117, Dublin 2, telephone: + 353 1 810 2400. With regard to the Company's American Depository Shares ('ADSs'), the existing ADS ratio, where one ADS represents five Ordinary Shares will remain. Following the Stock Split the number of ADSs held by an ADR holder as of the record date will be doubled. Trading in the ADSs on the Nasdaq National Market will reflect the Stock Split as of the open of trading on Friday December 7, 2001. ADS holders need take no action. ADS accounts held in book entry form will be credited with a 100% distribution in the mail. The record date for the Stock Split will be the close of business in Dublin on Thursday 6 December, 2001 with regard to the Ordinary Shares and close of business in New York on Thursday December 6, 2001 with regard to the ADSs. ENDS. For results and further information please contact: Howard Millar Ryanair Holdings Plc Tel: 353-1-8121212 Pauline McAlester Murray Consultants Tel: 353-1-6633332 www.ryanair.com Certain of the information included in this release is forward looking and is subject to important risks and uncertainties that could cause actual results to differ materially. It is not reasonably possible to itemise all of the many factors and specific events that could affect the outlook and results of an airline operating in the European economy. Among the factors that are subject to change and could significantly impact Ryanair's expected results are the airline pricing environment, fuel costs, competition from new and existing carriers, market prices for replacement aircraft, costs associated with environmental, safety and security measures, actions of the Irish, U.K., European Union ('EU') and other governments and their respective regulatory agencies, fluctuations in currency exchange rates and interest rates, airport access and charges, labour relations, the economic environment of the airline industry, the general economic environment in Ireland, the UK and Continental Europe, the general willingness of passengers to travel and other economics, social and political factors.
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