Holding(s) in Company

Cairn Energy PLC
28 January 2004


FOR IMMEDIATE RELEASE

                                                                 28 January 2004

                           CAIRN ENERGY PLC ('Cairn')

   Notification of Shareholding - Companies Act 1985 ss.198-202 (as amended)

Cairn was notified on 27 January 2004 by Deutsche Bank AG London that Deutsche
Bank AG and its subsidiaries have in aggregate an interest in 24,339,396
ordinary shares of 10 pence each in Cairn, representing 16.19% of Cairn's
current issued ordinary share capital.

The registered shareholders to which this notification relates and the number of
shares held by the registered holders at the date of notification is as follows:


REGISTERED HOLDER                                        NUMBER OF         %
                                                           SHARES

Deutsche Bank AG London                                    756,507
Deutsche Bank AG Frankfurt                                  16,068
Morgan Nominees Limited                                    841,380
Morgan Nominees Limited SL                                 102,700
Bank of New York Nominees                                1,565,360
BT Globenet Nominees                                        13,856
Channel Nominees                                            18,900
Chase Nominees                                           4,207,400
Deutsche Bank International Ltd                              5,215
DWS Investment GmbH                                        850,000
HSBC Global Custody Nominees (UK)                          167,000
Lloyds Bank Nominees                                         8,900
Master Trust Bank of Japan                                   1,200
Nortrust Nominees                                        1,475,767
State Street Nominees                                   14,224,089
Tokyo Trust                                                 85,054
                                                        24,339,396       16.19




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