Acquisition

LEPCO plc
28 February 2002

EMBARGOED UNTIL 8.00AM 28TH FEBRUARY 2002

LEPCO plc ('LEPCO' or 'the Company'),

ACQUISITION OF PRODUCING INTERESTS & ISSUE OF NEW SHARES

LEPCO, the AIM listed oil & gas company, announces the acquisition of Westmount
Resources Inc ('WRI') for a consideration of approximately £495,000. WRI has a
mixture of royalty and working interests in producing fields in the Gulf area of
the USA, which fit well with LEPCO's existing interests there. As part of the
consideration the vendor, Westmount Energy Limited ('Westmount'), also an AIM
listed company, will receive 6.5 million shares in LEPCO at 4.5p per share,
representing 14.27% of the Company. The remaining consideration will be met from
existing cash resources.

Harry Wilson, Chairman of LEPCO, said 'This acquisition of producing interests
and the issue of shares to a well known and supportive major new shareholder is
very positive for LEPCO. The acquisition will increase our working capital and
cash flow, which together with the upside offered by these interests, continues
the development of LEPCO which was started by our new management team in the
second half of last year.'

Derek Williams, Chairman of Westmount, said 'We believe that LEPCO has good
management and an exciting future. We are very supportive of its objectives and
are pleased to become a significant shareholder at an early stage in its
growth.'

The consideration payable comprises £292,500 in ordinary shares, being 6.5
million shares at 4.5p each, together with a cash payment of £202,500. At
closing, WRI will have net current assets of not less than $496,000
(approximately £350,000), thereby increasing LEPCO's cash resources by
approximately £147,500. The remaining £145,000 of the consideration relates to
the USA producing interests, which in the six months to the end of December 2001
yielded a cash flow from operations of approximately £24,000. There may be
workovers and additional wells drilled on these properties in the future.

Westmount has undertaken not to dispose of any shares for a period of six months
from completion. The acquisition is subject to certain completion matters
including admission to trading on AIM for the consideration shares, expected
shortly.

Enquiries:
Harry Wilson, LEPCO                           )               [phone]
Graeme Thomson, LEPCO                         )

Geoff Nash, Beeson Gregory                                   [phone]

Derek Williams, Westmount                                    [phone]



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