Director Shareholding

Falkland Islands Holdings PLC
15 June 2005

FALKLAND ISLANDS HOLDINGS PLC ('the Company')
FALKLAND ISLANDS HOLDINGS PLC Executive Option Scheme(the 'Scheme')

The Directors of the Company listed below were granted an option to subscribe
for ordinary shares in the Company on 14th June 2005 under the following terms:

a)

                                   Maximum number of          Price per Share
                             Ordinary Shares of 10 pence
                                   each to be acquired

D L Hudd                                49,411                   £4.25

J L Foster                              14,117                   £4.25

A M Knightley                           15,000                   £4.25


b)  There is no consideration to be paid for the granting of the option.


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