Director Shareholding

LEPCO plc
7 May 2002








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

              Directors' Shareholdings and Distribution of Shares


The Board of LEPCO, the AIM listed oil & gas company, announces that Endeavour
Oil and Gas Limited Partnership ('Endeavour') has, following the decision of the
Endeavour partners and Endeavour's general partner to distribute its assets in
specie, today distributed certificates covering its entire holding of 10,340,872
LEPCO ordinary shares of 1p each ('Ordinary Shares'), representing 22.7% of the
issued ordinary share capital, and 16,039,872 warrants to subscribe for Ordinary
Shares at 6p each ('Warrants'), to its underlying partners (the 'Distribution').
Accordingly Endeavour no longer has a notifiable interest in LEPCO. The
intention to make this Distribution was disclosed in the documentation issued in
connection with the Open Offer to raise £990,200 completed by LEPCO in July 2001
which Park Resources Limited underwrote on behalf of Endeavour. As part of the
Distribution, the Company and its nominated advisor and broker, Beeson Gregory,
have consented to the waiver of all remaining lock-in arrangements .



Following the Distribution, LEPCO has been notified of the following beneficial
holdings of directors of the Company:


Name                         No of Ordinary Shares    % of issued Ordinary Share       No of Warrants2
                                                                capital
Mr H Wilson                        2,374,4301                     5.2                     3,683,0141
Mr R O'Toole                       1,073,293                      2.3                     1,664,799
Mr G Thomson                        800,713                       1.7                     1,241,997


Note 1: The above interests are held as to 1,546,290 ordinary shares and
2,398,473 warrants held through a partnership in which Mr Wilson and his wife
each has a beneficial interest of 50% and 828,140 ordinary shares and 1,284,541
warrants in a company in which Mr Wilson has a beneficial interest of 26%.



Note 2: The Warrants were granted for nil consideration and are exercisable on
any business day no later than 5.00pm on 30 June 2003.





7th May 2002



Enquiries

Mr H Wilson/Mr G Thomson, LEPCO plc                   [phone]

Mr G Nash, Beeson Gregory                             [phone]



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