Press Releases

Notification of Transaction involving a Director

24th October 2005

Manganese Bronze Holdings PLC (“the Company”) advises that it received notification from Mark Fryer, a Director of the Company, that he had exercised 46,769 options at an exercise price of £0.588 on 24 October 2005.

These options were granted in October 2002. The performance conditions attached to these options have been amended, after consultation with the Company’s major shareholders, such that they can be satisfied by a reduction in losses per share equivalent to the previously required increase in earnings per share. This change is conditional upon the net benefits of the exercise being held in shares for a period of two years from the date of exercise. Accordingly, Mr Fryer now has an interest in 30,350 of the Company’s ordinary shares representing 0.159% of the Company’s issued share capital.

This notification is made under section 3.1.4R of the Disclosure Rules.

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