Corporate Action

Kern River PLC 21 May 2001 ENTITLEMENT ISSUE SECURITY TITLE *Ord Shs MNEMONIC CODE *KRV SEDOL CODE *490-526 TERMS *1 New Ordinary Share for every 4 Existing Ordinary Shares held at 32p EX DATE *21-05-01 RECORD DATE *09-05-01 SPLITTING APPLICATION FORMS *08-06-01 3:00pm RECEIPT OF APPLICATION FORMS *12-06-01 3:00pm DEALING COMMENCE NEW SHARES *19-06-01 NOTES *