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Arcon Int.Resources (AIN)

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Thursday 11 December, 2003

Arcon Int.Resources

Company Statement

Arcon International Resources PLC
11 December 2003





                           ARCON International Resources Plc

        DUBLIN & LONDON: 11th December 2003 - ARCON International Resources Plc
        has been involved in negotiations regarding wage rates for 2004 and
        beyond with its two Unions representing 120 of the 200 employees
        involved at its mining operations. Unfortunately due to the breakdown of
        these discussions with one of the Unions concerned, and the subsequent
        re-imposition of an overtime ban by the Union, the Company has been left
        with no alternative but to issue Protective Notices to its 200 mine
        employees.

        This decision has been forced on the Company because of the Union
        overtime ban, which has and will continue to impact on the production
        capacity of the mine. This impact on production, when coupled with the
        prevailing low zinc price and the rapid decline in the US dollar, has
        resulted in continuing losses which are unsustainable for the Company.

        If the cessation of industrial action is not forthcoming the mine may
        ultimately be placed on care and maintenance.

Ends.Thursday, 11th December 2003

For further information

   Pauline McAlester     Keith Irons                Kevin Ross
   Murray Consultants    Bankside Consultants Ltd   ARCON
   Tel: +353 (1) 498 0300Tel: +44 (207) 444 4155    Tel: +353 (56) 883 7100




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

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