RNS No 7332t
GAELIC RESOURCES PLC
31 August 1999

             DISCLOSURE UNDER RULE 8.1(a), 8.1(b) and 8.3 of the 
            IRISH TAKEOVER PANEL ACT, 1997 (TAKEOVER) RULES, 1997


DATE OF DISCLOSURE...31 August 1999............

DATE OF DEALING.....29 August 1999...............

DEALING IN......Gaelic Resources Plc..........(NAME OF COMPANY)

 (1)  CLASS OF SECURITIES (E.G. ORDINARY SHARES) ..Ordinary Shares..

 (2)  AMOUNT BOUGHT       AMOUNT SOLD     PRICE PER UNIT
        
         900,000               -            #0.01375 Stg         
                                                                              
 (3)  RESULTANT TOTAL OF THE SAME CLASS OWNED OR CONTROLLED
      (AND PERCENTAGE OF CLASS)..4,265,600...( 0.44% )........

 (4) PARTY MAKING DISCLOSURE.....J & E Davy.....


 (5) EITHER  (A) NAME OF PURCHASER/VENDOR (NOTE 1)
       OR    (B) IF DEALING FOR DISCRETIONARY CLIENT(S), NAME
                 OF FUND MANAGEMENT ORGANISATION
                ......J & E Davy..........
                             
 (6) REASON FOR DISCLOSURE (NOTE 2)
     (A)  (ii) OFFEROR OR ASSOCIATE OF OFFEROR...    No
         (11) OFFEREE OR ASSOCIATE OF OFFEREE...     Yes       
SPECIFY WHICH CATEGORY OF CATEGORIES OF ASSOCIATE ((a) TO (l) PAGE 3/4)....
.......................(d)...........................................

IF CATEGORY (l), EXPLAIN...........N/A................................
............................................................................

     (B) RULE 8.3 (I.E. DISCLOSURE BECAUSE OF OWNERSHIP OR CONTROL OF 1%
         OR MORE OF THE CLASS OF RELEVANT SECURITIES DEALT IN)    No



SIGNED, FOR AND ON BEHALF OF THE PARTY NAMED IN (4) ABOVE..............
   ....................Liza Galvin...................
                                                    
 (ALSO PRINT NAME OF SIGNATORY)..Liza Galvin...........


TELEPHONE AND EXTENSION NUMBER.....614 8892........



END

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