CLB Capital Bars

RNS Number:5721Q
Capital Bars PLC
28 January 2002

FOR IMMEDIATE RELEASE


28 January 2002




                                CAPITAL BARS PLC


                            Directors' shareholding




On 24 January 2002, Capital Bars plc ("the Company") allotted 23,500,000 new
ordinary shares in respect of the acquisition of certain bar, restaurant and
hotel interests in Dublin which were approved by shareholders in September 1999.
Of these new ordinary shares, Messrs William and Desmond O'Dwyer are deemed to
be interested in a total of 18,756,352 shares and Aidan Corcoran is interested
in 433,314 shares, all are directors of the Company.


Following the offer for the Company by Full Circle Investments plc having been
declared unconditional in all respects, each participant in the Capital Bars
Long Term Incentive Plan and option holders under parallel arrangements were
given the right to exercise their options. As a result of this, a further
1,700,000 Ordinary Shares have been allotted. Of these, 400,000 were issued to
Aidan Corcoran and 400,000 to Hugh Doherty, also a director of the Company.


The resultant beneficial shareholdings of Messrs W. O'Dwyer, D. O'Dwyer, A.
Corcoran and H. Doherty are as follows:

                                         Shareholding           % of enlarged

                                                                issued share 
                                                                capital

William O'Dwyer (1)                      44,177,732             74.42%
Desmond O'Dwyer (1)                      42,591,636             71.75%
A. Corcoran                              833,314                1.40%
H. Doherty                               400,000                0.67%


(1) These interests are, in part, duplicated and include 27,112,534 shares which
have been assented to the offer by Full Circle Investments plc and 10,873,000
shares held by Toji Holdings Limited. Messrs William and Desmond O'Dwyer are
each deemed to have an interest in these shares owing to their shareholdings in
Full Circle Investments plc and Toji Holdings Limited.


In view of the fact that Capital Bars is expected to be delisted by 5 February
2002, it is not intended that the Company will apply to the UK Listing Authority
or the Irish Stock Exchange for the shares just allotted to be admitted to
Listing, nor will application be made to the London Stock Exchange for the
shares to be admitted to trading.


It is the intention of each of the directors, whose names are set out above, to
accept the Offer for the Company made by Full Circle Investments plc in respect
of their shareholdings prior to the closing date on 5 February 2002.










ENDS.



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