Holding(s) in Company

Island Oil and Gas PLC 03 August 2006 Island Oil & Gas plc Holding in Company Island Oil & Gas plc ('Island' or the 'Company') has today received a notification dated 31 July 2006 from Gartmore Investment Management plc ('Gartmore') of an increase in its holding in the Company. The notification states that as at 28 July 2006, Gartmore holds, in aggregate, 9,544,054 ordinary shares of €0.01 each in the Company, representing approximately 13.705% of the 69,641,000 shares in issue. 3 August 2006 Enquiries: Lisa J Newman MCIPR MIRS Newman Consulting Tel: +44 (0)1252 878682 This information is provided by RNS The company news service from the London Stock Exchange

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