Holding(s) in Company

MAJEDIE INVESTMENTS PLC

The Company was advised on 19 January 2004 by AXA Investment Managers UK Ltd
that AXA S.A and its group companies have decreased their beneficial interest
in the Company from 17.02% to 16.83%.

The breakdown of the total beneficial interest by AXA S.A and its group
companies is as follows:

Sun Life Pensions Management Ltd                340,000     0.65%
                                                                 
Sun Life Unit Assurance Ltd                   8,498,119    16.18%
                                                                 
                                              8,838,119    16.83%

The total number of the Company's Ordinary shares held under the management of
AXA Investment Managers UK Ltd remains at 9,178,119, representing 17.47 % of
the Company's issued capital.

20 January 2004

Enquiries:

Sinclair Henderson Ltd, Company Secretary, 01392 477512