Issue of Share Options

RNS Number:7949S
Marchpole Holdings PLC
03 December 2003

                                                                 3 December 2003
For immediate release


                             Marchpole Holdings plc
                         ("Marchpole" or the "Company")

                            Vesting of share options


At the AGM of the Company held at on 31 October 2002, shareholders approved the
adoption of The Marchpole Holdings plc Enterprise Management Initiative Scheme
(the "EMI Scheme"), a share option scheme established to incentivise the
management of the Company. On 29 November 2002, Greg Tufnell and Justin
Hampshire, directors of the Company, were awarded, subject to meeting
performance criteria, 2,500,000 and 1,500,000 options under the EMI Scheme 
("Options"). At the same time, a further 1,500,000 Options were awarded to
employees of the Company under the EMI Scheme. The Options are over new ordinary
shares of 1p each in the Company ("Shares").



The Remuneration Committee of the Company has now confirmed the award of the
first tranche of one third of the Options, based on the performance criteria in
respect of the twelve month period ended 29 November 2003.



833,333 and 500,000 Options have therefore vested with Greg Tufnell and Justin
Hampshire respectively on 29 November 2003 and a further 87,000 Options have
vested with other employees, each Option at a strike price of 4.75 pence per
Share, all of which are exercisable immediately and for the period of ten years
from the vesting date.  The strike price was determined at the time of the
Option grant by taking the average mid-market price for the three dealing days
immediately preceding the date of grant.


Accordingly, the interests in the Company of Greg Tufnell and Justin Hampshire
are as follows:

                                    Shares            Share held as % of                 Options
                                                    issued share capital

Greg Tufnell                             -                             -                 833,333

Justin Hampshire                   500,000                         0.42%                 500,000

Enquiries:


Marchpole Holdings plc

Justin Hampshire                     020 7908 7777


Shore Capital

Alex Borrelli / Simon Edwards            020 7408 4090



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