Broker for London AIM Listing

Celtic Resources Holdings PLC 15 April 2002 Celtic Resources Holdings Plc Celtic appoints Williams de Broe as NOMAD and broker for London AIM Listing Announces 80% acceptance of early conversion of warrants raising £685,979 Celtic Resources Holdings Plc (CER) ("Celtic" or "the Company") today announced that Williams de Broe Plc has been appointed as nominated advisor and broker in relation to Celtic's proposed application for admission to the Alternative Investment Market of the London Stock Exchange ("AIM"). The company hopes to obtain the AIM listing before July this year. "After weighing up the alternatives, we believe that an AIM listing for Celtic at this stage of its development will be beneficial. As an AIM company, Celtic's profile with private and institutional investors should be enhanced and the Company will have greater access to capital markets "said Chairman and Managing Director, Mr Kevin Foo. The Company also announced that a recent offer to all 10p warrant holders to consider an early exercising of their warrants, which have an exercise date of 31 December, 2002 was taken up by 80% of holders. As a result of this offer, the company has raised £685,979 net that will be used, along with £3.86m raised in March, to accelerate development of the 27 million ounces gold resource Nezhdaninskoye project and for other corporate purposes. Meanwhile, project finance arrangements for Nezhdaninskoye from Standard Bank, London are well progressed with technical and legal due diligence now substantially complete and loan documents under preparation. Celtic expects a commitment from Standard Bank in early May, following which all regulatory approvals would be sought. For more information please contact Kevin Foo / Claire Bolton Celtic Resources Holdings Plc Tel: + 44 (0) 20 7593 0001 londonoffice@celticresources.com Leesa Peters / Cindy Dennis Capital PR Tel:+44(0)20 7618 7889/0781 215 9885 Leesa@capitalww.com Maeve Governey / Rachel Watchorn Heneghan PR Dublin Tel: + 353 1 660 7395 info@hpr.ie Eugenee Mulhern, Davy Corporate Finance Ltd Tel: + 353 1 679 6363 dcf@davy.ie www.celticresources.com 15 April, 2002 This information is provided by RNS The company news service from the London Stock Exchange