STANELCO Plc>>THE LATEST INFORMATION.

I can see another rights issue on thw way just like last year. But it will be much bigger than 58m because they will have to pay a packet to BPRG.


RNS Number:2778U
Stanelco PLC
15 January 2004

For Immediate Release

15 January 2004

Stanelco PLC ("Stanelco" or "the Company" or "the Group")

Audited Results for the year ended 31 October 2003 and details of Rights Issue

The Directors are pleased to announce the audited results for the year ended 31
October 2003. At the same time the Directors are taking the opportunity of
raising approximately #1.6 million, after expenses, by way of an underwritten
Rights Issue (save with respect to the Committed Shares which represent 0.05 per
cent of the issued share capital of the Company) on the following basis:

1 New Ordinary Share for every 12 existing Ordinary Shares held at 3p per share.

The Rights Issue of 58,527,479 New Ordinary Shares represents 8.3 per cent. of
the issued share capital of the Company.

A Circular dated 15 January has been sent out to all Qualifying Shareholders
(subject to certain exceptions) and is available from the offices of Eversheds,
Senator House, 85 Queen Victoria Street, London EC4V 4JL for a period of one
month from the date of the Circular. Copies of the Circular have been submitted
to the UK Listing Authority and are available for inspection, as from the date
of the Circular, at the UK Listing Authority's Document Viewing Facility
situated at The Financial Services Authority, 25 The North Colonnade, Canary
Wharf, London E14 5HS.

Dave.