Placing of Shares

RNS Number:3142O
Galleon Holdings PLC
05 August 2003


For Immediate Release                                           5th August 2003


                              GALLEON HOLDINGS PLC

                  PLACING OF NEW ORDINARY SHARES AND WARRANTS


Galleon Holdings plc ("the Company") on 31st July 2003 agreed to place
30,000,000 new ordinary shares of one pence each at par, to raise #300,000
before expenses. The shares are to be placed with institutional investors and
certain existing shareholders. With each new share subscribed, subscribers will
receive one warrant to subscribe for one new ordinary share. The warrants will
have a life of two years and will be exercisable at the placing price.


Amongst the placees are members of the immediate family of the Chairman, James
Driscoll, MBE. A separate announcement of the consequential change in Mr.
Driscoll's interest in the Company will be issued. Application will be made for
the new shares the subject of this placing to be admitted to the Alternative
Investment Market of the London Stock Exchange.


ENDS


For further information, please contact:


Jim Driscoll, Galleon Holdings plc                     Tel: [phone]
Peter Binns, Binns & Co PR Ltd                         Tel: [phone]




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