Exercise of Options

Ceres Power Holdings plc 16 December 2004 For immediate release 16 December 2004 Ceres Power Holdings Plc (the 'Company') The Company announces that a total of 85,340 new ordinary shares of 5p each have been issued and allotted pursuant to the Company's EMI Option Scheme. Various employees of the Company exercised these options between 1 December 2004 and 15 December 2004 according to mid market prices prevailing between those dates. Application has been made for the new ordinary shares to be admitted to AIM and trading is expected to commence at 8.00 a.m. on 22 December 2004 bringing the issued share capital of the Company to 55,181,733. This information is provided by RNS The company news service from the London Stock Exchange