Statement re Largest holdings

MAJEDIE INVESTMENTS PLC (the 'Company')

In accordance with UKLA Listing Rule 21.20(l)(ii), the following list
represents as at 31 December 2003, the Company's 10 largest investments and
where appropriate, any investment with a value greater than 5% of the Company's
gross assets:

Name of company Class of Share

HSBC Ordinary

Vodafone Group Ordinary

BP Ordinary

Royal Bank Of Scotland Group Ordinary

GlaxoSmithKline Ordinary

Shell Transport & Trading Ordinary

Barclays Ordinary

AstraZeneca Ordinary

Majedie Asset Management UK Opps `A' Units

Daejan Holdings Ordinary

5 January 2004