INFORMS RESULT OF E.C.D. CONVERSION

09 July 1996
Loxley Plc (LOXLEY), previously issued and offered Euro-Convertible Debenture) (E.C.D.) to foreign investors, now reports the result of the E.C.D. conversion on June, 1996 that no holders converted E.C.D.s into the company's common shares. The company previously issued E.C.D.s worth US$ 100 million to foreign investors from April 20 - May 20, 1995. The holders are eligible to convert E.C.D.s into the company's common shares from July 20, 1995 to the end of the E.C.D. maturity.