PROPOSED RIGHTS ISSUE

Summary

Hunting PLC ("Hunting" or the "Company"), an international oil and gas services group, today announces that it proposes to raise approximately £45.7 million by way of a rights issue to Qualifying Shareholders to finance Hunting's ongoing capital investment in its existing and new facilities and to take advantage of acquisition opportunities.

The Rights Issue

• Rights Issue to raise approximately £45.7 million

• 1 New Ordinary Share for every 4 Existing Ordinary Shares

• Issue price of 180 pence per New Ordinary Share which represents a discount of approximately 31 per cent. to the closing mid market price on 28 June 2005 (being the last Business Day prior to this announcement)

• The Rights Issue is fully underwritten by Hoare Govett

• The Rights Issue is conditional upon the approval of Shareholders to be sought at an Extraordinary General Meeting

• Hunting Family Shareholders, who together hold approximately 27 per cent. of the Existing Ordinary Shares, have irrevocably undertaken not to take up or subscribe to their entitlement to Nil Paid Rights and to vote in favour of the Resolution at the EGM

• All of the Directors intend to vote in favour of the Resolution at the EGM

Commenting on the proposed Rights Issue, Dennis Proctor, Hunting's Chief Executive, said:

"Hunting is well placed to take advantage of the increased activity in the upstream and midstream oil and gas industry. Significant further business is likely to be obtained from existing and new customers by investing in additional capacity and services. In addition, a number of potential acquisitions have been identified to expand the product and service offering of Hunting Energy. This investment is consistent with Hunting's strategy of developing its existing operations as an oil and gas service provider and generating additional shareholder value."

Hunting Plc are advised by Close Brothers Corporate Finance.

ENQUIRIES

Close Brothers

+44 (0)20 7655 3100

Andrew Cunningham

Jack Newall

This summary should be read in conjunction with, and is subject to, the full text of the announcement (available from Close Brothers upon request).

Close Brothers Corporate Finance Limited ("Close Brothers"), which is regulated in the United Kingdom by The Financial Services Authority, is acting exclusively for Hunting and for no one else in relation to the Rights Issue and will not be responsible to anyone other than Hunting for providing the protections afforded to customers of Close Brothers or for providing advice in relation to the Rights Issue or on any matter referred to herein.