Admission of Shares

23 April 2014

Ceramic Fuel Cells Limited

("CFCL" or the "Company")

Admission of Shares

Ceramic Fuel Cells Limited (AIM / ASX: CFU), a leading developer of generators that use fuel-cell technology to convert natural gas into electricity and heat for homes and other buildings, announces that further to the Bergen Agreement as announced on 24 March 2014, 13,406,250 shares of no par value in the Company ("Ordinary Shares") have been issued and allotted at a price of A$0.016 (£0.09) per Ordinary Share. This allotment is in respect of shares subscribed for by Bergen in April 2014.

Application has been made for the admission of the 13,406,250 Ordinary Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and trading in the new Ordinary Shares will commence on AIM at 8.00 a.m. on 29 April 2014.

The new Ordinary Shares will represent approximately 0.55 per cent. of the enlarged share capital of the Company immediately after Admission and will, when issued, rank pari passu in all respects with the other Ordinary Shares then in issue.

Following Admission, the number of Ordinary Shares with voting rights in the Company will be 2,456,930,574. This figure may be used by shareholders following Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, their shareholding in the Company.