Enterprise Oil PLC
2 March 2000
Vesting of LTIP
===============
Following completion of the three year performance measurement, the 1997
conditional allocation of ordinary shares of 25p each under the Company's Long
Term Performance Related Share Scheme ('LTIP') vested on 2 March 2000 at 80%
of the grant to 73 senior executives including 6 directors totalling 563,093
such shares.
We have also been notified by the trustees of the Enterprise Oil Employee
Worldwide and UK Benefit Trusts of the sale and repurchase out of and into
trust of ordinary shares in the capital of the Company following this vesting.
159,488 shares were sold and repurchased by the trustees on 2 March 2000 at a
price of 380 pence per share. A further 139,852 shares were purchased by the
trustees on the market at 380 pence per share. The following Directors, A R
Armour, I G Craig, Sir Graham Hearne, P H Jungels, A B Shilston and K P Watts
have a potential interest as beneficiaries thereunder.
Grant of LTIP award
===================
A conditional allocation of ordinary shares of 25p each was made on 2 March
2000 to 110 senior executives, including the 5 executive Directors under the
Company's LTIP. These shares are held in trust for three years subject to the
achievement of certain performance targets under the LTIP. No consideration is
payable either at allocation or on vesting of all or part of the shares.
Directors' holdings and new LTIP award
======================================
The following table shows the number of shares acquired for nil consideration
on 2 March 2000 in respect of which the directors have funded the payment of
the relevant PAYE from their own resources. The table also details the
conditional allocation made under the LTIP on 2 March 2000 and the relevant
directors' current cumulative beneficial holdings of ordinary shares in the
capital of Enterprise Oil Plc.
Name No of No of Current beneficial Conditional
ord shs ord shs holding of ordinary allocation
acquired sold shares
A R Armour 13,332 nil 24,304 50,700
I G Craig 8,916 nil 16,464 45,630
Sir Graham Hearne 33,332 nil 78,463 nil
P H Jungels 58,332 nil 67,361 101,401
A B Shilston 15,416 nil 57,117 58,306
K P Watts 12,083 nil 21,574 53,235
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