Results of GM

6 May 2011

Hansteen Holdings PLC ("Hansteen" or the "Company")

RESULT OF GENERAL MEETING

On 13 April 2011, Hansteen announced a share issue to raise gross proceeds of approximately £150.0 million (approximately £147.0 million net of expenses) through the issue of 185,185,186 New Ordinary Shares by way of a Placing and Open Offer at a price of 81p per New Ordinary Share, fully underwritten by Peel Hunt LLP.

Hansteen is pleased to announce that, at the General Meeting, which was held at 10.00 a.m. today, the Resolutions to grant the authorities and powers in connection with the Placing and Open Offer were duly passed by way of a poll without amendment. The full text of the Resolutions and the notice convening the General Meeting are set out in the Prospectus published by the Company on 13 April 2011.

The voting on both resolutions proposed was carried on a poll, conducted by Capita Registrars as scrutineers. The votes received for and against both resolutions represented a total of 73.43% of the 453,648,064 ordinary shares in issue as at the date of the meeting (each ordinary share carries one vote). The results, in respect of both resolutions, were as follows:

These results will shortly be available on the Company's website at www.hansteen.co.uk

In accordance with Listing Rule 9.6.2 a copy of the resolutions passed at the General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.hemscott.com/nsm.do

The Placing and Open Offer remains conditional upon the Placing Agreement becoming unconditional in all respects and Admission. It is expected that Admission will become effective, and dealings in the New Ordinary Shares will commence, at 8.00 a.m. on 9 May 2011.

New Ordinary Shares in uncertificated form are expected to be credited to CREST accounts by 8.00 a.m. on 9 May 2011 and definitive share certificates for the New Ordinary Shares in certificated form are expected to be dispatched by 23 May 2011.

The Enlarged Share Capital of Hansteen following Admission will be 638,833,250 Ordinary Shares in aggregate.

ENQUIRIES:

Capitalised terms used, but not defined, in this announcement have the same meanings as given to them in the Prospectus published by the Company dated 13 April 2011 unless the context requires otherwise.

This announcement should be read in conjunction with the full text of the Prospectus published by Hansteen on 13 April 2011. The Prospectus, which includes a notice convening a general meeting of Hansteen, is available to view via the National Storage Mechanism at www.hemscott.com/nsm.do. In addition, the Prospectus is available to view on the Company's website at www.hansteen.co.uk/investor-centre/public-documents.php and will be available for inspection at the offices of Jones Day, 21 Tudor Street, London EC4Y 0DJ during usual business hours on any weekday (Saturdays, Sundays and public holidays excepted).