AFC Energy Regulatory News (AFC)

AFC Energy Plc

("AFC Energy" or the "Company")

Exercise of Warrants

AFC Energy (AIM: AFC) announces that application has been made for 450,000 new ordinary shares to be admitted to trading on AIM pursuant to the exercise of a Warrant Instrument dated 23rd February 2007 and expiring on 22nd February 2010. The warrants have an exercise price of 10 pence.

The new ordinary shares will rank pari passu with the Company's existing ordinary shares and trading is expected to commence on 22 February 2010.

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