BRR Braemore Res

RNS No 8481f
BARRASFORD HOLDINGS PLC
2nd October 1998

                           BARRASFORD HOLDINGS PLC                            
                                                                              
                             ALLOTMENT OF SHARES                              

Under the offer by Gander Holdings PLC ("Gander") for all the issued and to be
issued ordinary shares of 1p each in the capital of Barrasford Holdings PLC.
(the "Company") holders of warrants to subscribe for Ordinary Shares at 1p per
share at any time before 13 July 2004 were given the opportunity to exercise
their warrants in order to accept the offer from Gander.

The holders of 28,260,000 Warrants exercised their warrants by paying 1p per
share and the company has allotted 28,260,000 ordinary shares of 1p.

Application is being made for the 28,260,000 Ordinary Shares of 1p to be
admitted to trading on the Alternative Investment Market of the London Stock
Exchange and dealings are expected to start in these shares on Friday 9
October 1998.

For the purposes of Section 324 of the Companies Act 1985, the following
directors of the Company have been allotted the following number of Ordinary
Shares:

Name of Director                            Number of Ordinary Shares Allotted
----------------                            ----------------------------------

Oliver Vaughan                                           8,950,000
Brian Moritz                                               500,000
Timothy James                                            7,500,000
Adrian Graham                                              350,000

The interest of Oliver Vaughan referred to above includes 1,000,000 Ordinary
Shares allotted to his wife, Diana Vaughan, and the interest of Timothy James
referred to above includes 5,000,000 Ordinary Shares allotted to Strand
Nominees Limited.

All of the above 28,260,000 Ordinary Shares of 1p have accepted the Offer from
Gander.

END

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