Transaction Update

LEPCO plc 24 April 2001 LEPCO plc ('The Company') Further to the Company's announcement on 20 April of the termination of negotiations between the Company and DNO ASA, the Company now announces that the directors are in discussions concerning the Company's financial situation with major shareholders. Pending clarification of the Company's financial position, the Company's shares will remain suspended from trading on AIM. A further announcement will be made as soon as possible. 24 April 2001