REPORTS ON RESULT OF E.C.Ds CONVERSION
18 November 1996
                            
                                Loxley   Plc   (LOXLEY)   reported  on  result  of  Euro  Convertible 
 Debentures  (E.C.Ds)  conversion that on October, 1996, there is no holder 
 converted their E.C.Ds to the company's common shares.
      LOXLEY  previously issued E.C.Ds worth totalling of US$100 million to 
 foreign investors from April 20 to May 20, 1995. The holders were eligible 
 to  convert  their  E.C.Ds  before  the  maturity.  The conversion started 
 fromJuly 20, 1995 onwards.
                            
                         
                                 
                                 
                                 
                                