Stmt re Nominated Advisor

RNS Number:9358K
Atlantic Caspian Resources PLC
9 May 2003


               ATLANTIC CASPIAN RESOURCES PLC (THE COMPANY)

                              ANNOUNCEMENT

The Company has been unsuccessful in the appointment of a new nominated advisor,
and its shares will therefore be delisted on Monday 12 May.

The Company is presently negotiating a transaction to consolidate its activities
with an independent operator within the Caspian Region. It is the intention to
financially reorganise the Company and advise shareholders the basis of a
transaction in the near future.

The Company has been notified that loans drawn by it pursuant to various
agreements with JAV Limited, to the value of approximately #7.9 million, have
been novated to Nemrod Investissment SA, the beneficial owner of which is
Charles Helvert, a director of the Company.

Gordon Yeomans has resigned as a director of the Company with effect from 1 May 
2003. 

8 May 2003


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

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