Rose Petroleum plc

Proposed Flotation on AIM and related Placing

15-April-2004

Vane Holdings plc (the "Company") has signed an agreement with Seymour Pierce Limited pursuant to which the Company has appointed Seymour Pierce Limited to advise the Company on its flotation on AIM, and the related placing to raise sufficient working capital to carry out the company?s planned exploration and development programme.

Seymour Pierce Limited have drafted a proposed timetable for the admission and, at present, we are working towards an impact date around early June 2004.

We will of course keep you up to date. If you have any investor or media queries, please do not hesitate to contact the directors or Cathy Malins/Justine Howarth of Parkgreen Communications (the company?s appointed financial Public Relations agent) on +44 (0) 20 7493 3713, e-mail cathy.malins@parkgreenmedia.com or justine.howarth@parkgreenmedia.com.