RNS Number:7608T
Mercury Recycling Group PLC
31 December 2003

Mercury Recycling Group plc ("Mercury") announces that it has today converted
loans outstanding to Caledonian Heritable Investments Limited and to Penmarric
plc into new ordinary 10p shares. Mercury owed #58,250 to each of the two
companies. The loans have now been converted into 495,745 new ordinary 10p
shares for each company at an issue price of 11.75p per share, being the current
mid-market price.



Mercury has applied for the 991,490 shares to be admitted to AIM and it is
expected that admission will take place and dealings will commence on 7 January
2004.



As a result of the issue, the holding of Caledonian Heritable Investments
Limited in Mercury's ordinary 10p shares is now 4,606,169 shares, representing
approximately 13.81% of the enlarged share capital of 33,359,490 issued shares.



In addition, Penmarric plc is a company in which Mr Joe Dwek, a director of
Mercury, is interested. Accordingly, Mr Dwek's interest in Mercury's ordinary
10p shares is now 3,238,019 shares, representing approximately 9.71% of the
enlarged share capital.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

LISFFLFXXLBFFBK