Renewable Energy holdings

21 December 2006

Renewable Energy Holdings plc
('REH' or 'the Company')

CETO Technical Report


The board of directors ('Board') of REH is pleased to announce that it has
received a final version of an independent technical report on the CETO wave
power device technology ('Report') prepared by PB Power, part of Parsons
Brinckerhoff, an independent consultancy firm company specialising in the global
power industry.

The Report was commissioned by REH in order to provide an independent, expert,
third party validation of the CETO wave power device technology and the Board is
pleased to announce that the findings of PB Power's report are favourable.

Key factors confirmed by the report are the estimated capital expenditure per
MW, which positions CETO close to wind turbines, but with more than twice the
operating load factor, and the estimated operating expenditure per Kwh which
enables CETO to be economically competitive with fossil fuel-based generation.

The report will be available for download from REH's website at www.reh-plc.com
in the New Year.

Commenting on the findings of the PB Power report, Mike Proffitt, Chief
Executive of REH, commented: 'The findings of the PB Power report give the
Board great satisfaction that the development expenses incurred to date in
developing the CETO technology have been well invested. PB Power validated not
only our technology but also our commercial assumptions. The Board is now fully confident to move forward to the commercialisation of the CETO wave power unit and will be seeking an appropriate partner to assist the Company with this.