Issue of Share Options

AFC Energy plc

("AFC Energy" or the "Company")

Issue of Share Options

AFC Energy is pleased to announce that is has granted options over 1,600,000 ordinary shares in the Company to help incentivise new employees that have joined the Company over the last 12 months.

The options have been granted under the rules of the AFC Energy Plc Enterprise Management Incentive Share Option Scheme. 

The options are exercisable at a price of 17.5 pence per ordinary share, being the closing price on 11 March 2010 and are exercisable between 3 and 10 years following the date of issue.

Following the issue of these options there will be 8,660,000 options and 4,750,000 warrants in issue, representing 8.2% of the fully diluted share capital of the Company.

For further information please visit www.afcenergy.com or contact: