Re Production Figures

Glencar Mining PLC 5 March 2001 Glencar Mining plc ('Glencar') Wassa update Production The production figures for the Company's Wassa mine in Ghana, for January and February 2001, have been below expectation. The number of ounces produced for these periods was 7,600 and 5,700 respectively. These levels of production were caused by technical difficulties at site, primarily with the leaching process. Other matters Given the current gold market environment, the Directors believe it is unlikely that Glencar will recover any of its investment in this project. 5 March, 2001 Ends For further enquiries: Hugh McCullough: Glencar Mining plc Tel: 00 353 1 661 9974