EPSOM, SURREY, United Kingdom, March 5, 2002 (PRIMEZONE) -- Emerald Energy Plc is pleased to announce that it has issued 55,000,000 new ordinary shares of 1p each (the "new Emerald Shares"), to Resources Investment Trust plc ("REI") in consideration for the issue by REI of 715,000 new ordinary 5p shares in REI. (the "new REI Shares") at a price of 1 Pounds sterling per share, giving an effective issue price to Emerald of 1.3p per share. The new REI Shares are being held in escrow until 31 March 2002
The new Emerald Shares represent approximately 4.14 per cent of Emerald's existing issued ordinary share capital and 3.97 per cent of its enlarged issued ordinary share capital.
Application will be made to the UK Listing Authority for the new Emerald Shares, which rank pari passu with the existing issued ordinary share capital, to be admitted to the Official List of the UK Listing Authority and to the London Stock Exchange for such shares to be admitted to trading on the London Stock Exchange's market for listed securities.