Transfer of Shares Procedures

Ryanair Holdings PLC
14 October 2002





               New Procedures Governing the Transfer of Shares in

                    Ryanair Holdings plc between Custodians

                    without a change in Beneficial Ownership



Ryanair Holdings plc today (14/10/02) announced that with immediate effect
custodians who wish to transfer shares to another custodian without a change in
beneficial ownership may avail of a discretionary concession so that such shares
do not become Restricted Shares. Prior to the introduction of this procedure
such a transfer would have resulted in these shares becoming Restricted Shares
if the beneficial owner was a non-EU resident, and the beneficial owner would
have been required to dispose of these shares to an EU national. To apply for
this concession the following information must be provided to Ryanair's
registrars:


     a. Complete a formal application


     a. Supply nationality declaration


     a. Provide documentary evidence confirming no change in beneficial
        ownership

     a.

        Complete a declaration in the required format by both parties applying
        for concession


This concession is also available to sub-custodians, who comply with the above
requirements. Custodians or sub-custodians who wish to apply for this concession
are advised to contact IRG Capita, the Company's registrars (see details below).


Following review of the application and the provision of the above documentation
the Company will consider the application and, if it is satisfied with the
documentation, may determine that a Restricted Share Notice will not be issued
on foot of the transfer. This new concession regarding the transfer of shares
between custodians may be altered, revoked or withdrawn at any time with 30 days
notice.


Enquiries:


Pauline McAlester

Murray Consultants

Tel: [phone]


Walter Scully

IRG Capita

Tel: [phone]




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