Exercise of Options

RWS Holdings PLC
17 November 2004


                            RWS HOLDINGS PLC ('RWS')

                              Exercise of Options

RWS announces that that it has issued and allotted 377,821 new ordinary shares
of 5p each ('New Shares') pursuant to the exercise of an option by its nominated
advisor, Collins Stewart. The option was granted to Collins Stewart at the time
of the Company's admission to AIM in November 2003 and represented an option
over 1 per cent. of the Company's issued share capital at the time of flotation.
Application has been made to the London Stock Exchange for the New Shares to be
admitted to AIM ('Admission'). It is expected that Admission will occur on 22
November 2004.

The New Shares have been placed with institutional shareholders, conditional on
Admission.


17 November 2004


                      This information is provided by RNS
            The company news service from the London Stock Exchange