Melrose Announces Results of Placing and Open Offer

Melrose Resources reports that applications were received for 4,083,420 ordinary shares (95%) in connection with the recent Placing and Open Offer. In addition, a further 2,719,485 ordinary shares are being issued pursuant to the Firm Placing and Placing. Accordingly, a total of 6,802,905 ordinary shares will be admitted to listing (raising approximately £14.29 million gross). Dealings are expected to commence on July 8, 2004.