Result of AGM

Glencar Mining PLC
30 July 2001





            Glencar Mining plc ('Glencar Mining' or 'the Company')


      Re-denomination and Re-nominalisation of Share Capital into Euros




Glencar Mining announces that all resolutions were passed by shareholders at
its Annual General Meeting held on Wednesday 25 July 2001, including a
resolution to re-denominate and re-nominalise the Company's Irish pound share
capital into Euros.


The authorised and issued ordinary shares of nominal value IR2.5p each have
been re-denominated and re-nominalised to ordinary shares of nominal value EUR
0.031. This adjustment, which has immediate effect, does not alter the number
of fully paid ordinary shares in issue and the existing share certificates
continue to be valid.




30 July, 2001