Listed options exercised

24 February 2015

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 application has been made for the admission of 2,216 ordinary shares of no par value in the Company ("Ordinary Shares") to trading on AIM ("Admission") following the exercise of listed options held by participants in the Company's recent rights issue, the results of which were announced to the market on 24 November 2014.

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 2 March 2015.

The Ordinary Shares will rank pari passu in all respects with the other ordinary shares currently in issue.

The number of Ordinary Shares with voting rights in the Company is now 3,041,616,994. This figure may be used by shareholders 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.