Further re Falkland

Falkland Islands Holdings PLC
30 September 2004

                         Falkland Islands Holdings PLC

                      Update Re Falkland Oil & Gas Limited

For immediate release                                      30 September 2004


The board of Falkland Islands Holdings PLC ('FIH') is pleased to announce that
the proposed admission of Falkland Oil & Gas Limited ('FOGL') to AIM is
proceeding as planned.

FOGL is announcing details of its AIM admission today. The proposed placing
price of 40p per FOGL share values FIH's interest in FOGL at £5.78 million.
FIH's shareholding will represent 18.1% of FOGL's enlarged share capital
following the FOGL offer for subscription if it is fully subscribed.



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