3 Million Shares Placed at Eur0.0385

Celtic Resources Holdings PLC 19 November 1999 CELTIC RESOURCES PLC ('Celtic') Celtic today announces that it has placed 3,000,000 Ordinary Shares representing approximately 6.5% of the enlarged issued ordinary share capital of Celtic, at a price of Euro 0.0385 per share. These new Ordinary Shares have been placed with new private investors. The funds raised will facilitate further assessment of Celtic's Nezhdaninskoye gold mining project. Application will be made for these new Ordinary Shares to be dealt in on the Exploration Securities Market of the Irish Stock Exchange.