17. SHARE PREMIUM		1997 US$m	1996 US$m
At 1st January		181.9	183.4
Capitalisation arising on scrip issued in lieu of dividends		(3.5)	(1.5)
Exercise of share options		1.6	-
At 31st December		180.0	181.9
Share premium excludes US$34.2 million (1996: US$29.0 million) arising on the ordinary shares issued to the Trustee of the Company's Senior Executive Share Incentive Schemes (note 16).