Holding in Company

Falkland Islands Holdings PLC
8 January 2002


FALKLAND ISLANDS HOLDINGS plc ('the company') 

The company yesterday received the notification below dated 7th January of a 
change in the holding of INVESCO Perpetual UK Smaller Companies Growth Fund 
(formerly INVESCO GT UK Smaller Companies Fund) that on 3rd January 2002 
following the sale of 3750 Ordinary shares, their holding is reduced to 304,250 
ordinary shares of 10p representing 4.97% of the issued share capital.

The total holding under the control of AMVESCAP PLC is reduced to 696,250 
ordinary shares of 10p representing 11.38% of the issued share capital of the 
company.


LETTER TO: FALKLANDS ISLAND HOLDINGS PLC
LETTER DATED 7 JANUARY 2002

SECTION 198 COMPANIES ACT 1985 ('THE ACT')

We write in accordance with the above Act to advise you that, following the sale
of 3,750 Ordinary Shares on 3rd January 2002, INVESCO Perpetual UK Smaller 
Companies Growth Fund (formally INVESCO GT UK Smaller Companies Fund) now holds 
304,250 (4.97%*) ordinary shares of 10p in your Company.

Please note that this holding was previously notified to you on 9th December 
1999 under our aggregate holding of 11.46%.

*Based on an issued share capital of 6,120,037

LETTER FROM: AMVESCAP PLC