11th January 2007

Exercise of Options

Options to subscribe for 100,000 Ordinary Shares of Euro0.06c in the
capital of Kenmare have been exercised. Application has been made to
the Irish Stock Exchange and the UK Listing Authority for the new
Ordinary Shares to be admitted to, respectively, the Official List of
the Irish Stock Exchange and the Official List of the UK Listing
Authority and to the London Stock Exchange for the new shares to be
admitted to trading. The new Ordinary Shares rank pari passu in all
respects with the existing Ordinary Shares.



Deirdre Corcoran
Company Secretary

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Copyright � Hugin ASA 2007. All rights reserved.

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