Re Directorate

R.E.A.Hldgs PLC 24 December 2001 The directors of R.E.A. Holdings plc ('REA') announce that Mr N E Newby, who has held the position of Managing Director since 1978, will retire from the Board of Directors of REA with effect from 31st December 2001. With effect from 1st January 2002, Mr J C Oakley who has been a director of REA since 1985, will be appointed to the position of Managing Director.