RNS Number:0016B
Clipper Ventures PLC
17 November 1999


                      Placing of New Ordinary Shares

                      Conversion of Preference Shares 

Clipper Ventures Plc ("Clipper") has placed 341,275 new ordinary shares at
42.25p per share to raise #144,189 of new capital (before expenses). Application
will be made for these shares to be admitted to trading on AIM and dealings are
expected to commence on 23 November 1999.

William Ward, the managing director of Clipper, is the holder of 400,000 #1
preference shares in Clipper ("Clipper preference shares"). Mr Ward has
expressed a wish to convert half of his holding into new ordinary shares. The
directors (other than Mr Ward) have accordingly resolved, subject to the
approval of Clipper shareholders, to issue 473,373 new ordinary shares in
exchange for 200,000 of his Clipper preference shares at an effective price of
42.25p per new ordinary share. The resolutions required to effect this
transaction will be put at the Annual General Meeting of Clipper, for which a
notice will be sent to shareholders shortly.

Enquiries
Clipper Ventures Plc    01234 711550
William Ward, Managing Director

END
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