Ceres Power has raised approximately £16.0 million before expenses, to fund the
development and commercialisation of its fuel cell products and to meet the
costs of admission, through the placing of 13,333,333 New Ordinary Shares of 5p
each at 120p per share.  In addition, Numis Securities Limited, on behalf of
certain Selling Shareholders, has placed 4,633,085 Sale Shares of 5 p each at
120p per share.  The total number of ordinary shares in issue immediately
following admission to AIM will be 55,096,393.  Dealings in the shares began
this morning.
 

Placing statistics:

Issue Price                                                                 120p
Number of New Ordinary Shares being placed                            13,333,333
Gross proceeds raised by the Placing                               £21.6 million
Number of ordinary shares in issue following the placing              55,096,393
Market capitalisation following the placing at the issue price     £66.1 million
Net proceeds of the Placing receivable by the Company              £14.6 million
Percentage of the enlarged share capital available in the Placing          32.6%

Commenting on Ceres Power's admission to AIM, Peter Bance, Chief Executive,
said: 'We have achieved a genuine technology breakthrough and our arrival on AIM
positions us strongly to capitalise on the major commercial opportunities open
to us'.
 

For further information, please contact:

Ceres Power Holdings plc                                         01293 400 404
Peter Bance, Chief Executive

First City Financial Limited                                     020 7436 7486
Allan Piper, Director                                            07736 064 982

Numis Securities Limited                                         020 7776 1500
Jag Mundi, Head of Corporate Finance