Directors Shareholdings

RNS Number:0565N
Global Natural Energy PLC
02 July 2003


                          Hichens, Harrison & Co. plc
                                Bell Court House
                              11 Blomfield Street
                                     London
                                    EC2M 1LB

                           Telephone  - 020 7588 5171

                              Fax - 020 7628 9481


   Regulated and Authorised by the FSA. Members of the London Stock Exchange.

                                PRESS ANNOUNCEMENT

                           Global Natural Energy plc


Alisher Usmanov, Vice Chairman of Global Natural Energy ("GNE") has subscribed
at the maximum price of 250p per share for a total of 560,000 new shares in GNE.
As a result Alisher Usmanov beneficially holds or otherwise controls 793,333
shares representing approximately 7.0% of the enlarged issued share capital of
GNE.


The subscription is in accordance with the Press Release issued on 1st July 2003
and the closing Daily Official List quotation of 253-267p as published in the
Stock Exchange Daily Official List of the 1st July 2003.


The new shares rank pari passu in all respects with the existing ordinary shares
of GNE.


Today, 2nd July 2003, Lord Owen, Chairman, has purchased 3,650 shares in GNE at
a price of 270p. Lord Owen's resultant holding is now 84,483 shares.


Farhad Moshiri, Chief Executive, has purchased 2,750 shares at 270p taking his
total holding to 206,151 ordinary shares.


Dennis Woods, Executive Director, purchased 5,000 shares at 245p for his PEP
Scheme on the 1st July 2003. This purchase takes his holding to 5,000 ordinary
shares.


Contact:


Dennis Bailey, Hichens Harrison & Co. plc                   020 7588 5171

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