First Calgary Petroleums Ltd. - Exercise of Stock Options by a Director

    TSX: FCP

    AIM-LSE: FPL

    CALGARY, June 6 /CNW/ - First Calgary Petroleums Ltd. announces that

133,333 common shares have been issued by the Company pursuant to the exercise

of stock options by Raymond P. Antony a Director of the Company. The stock

options exercised on June 5, 2003 included 100,000 common shares at

CAD$1.25/share and 33,333 at CAD$0.50/share with all 133,333 common shares

being sold by Mr. Antony at CAD$2.65/share on June 5, 2003. Mr. Antony

continues to hold 300,000 employee stock options in the company and currently

owns 100,000 common shares.

    This press release is being issued in compliance with the rules of the

    Alternative Investment Market of the London Stock Exchange ("AIM").

    For further information: Maria C. DeFrancesco, Executive Assistant,    

Telephone: (403) 264-6697; European contact, 4C Communications, Carina

Corbett, Telephone: +44(0)20 7907 4761

    (FCP.)



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