Holding(s) in Company

Metals Exploration PLC
13 December 2005

                     Metals Exploration Plc ('the Company')



                      Notification of significant holding



13 December 2005



Under sections 198 to 202 of the Companies Act 1985 and rule 17 of the AIM Rules
the following information falls to be disclosed.



The Company was notified of the following shareholdings:


Ordinary Shares of           Registered Name             Date Company notified     Percentage of issued
1 pence each held                                                                  share capital of the
                                                                                          Company

    1,980,000            Cantor Fitzgerald Europe           21 November 2005               4.1%
    2,490,000            Cantor Fitzgerald Europe           2 December 2005                5.2%



In addition, following purchases by Allianz Cornhill Insurance plc ('Cornhill')
of 500,000; 300,000 and 200,000 shares in the Company (registered in the name of
Bank of New York (Nominees) Limited) on the 9, 10 and 11 of  November 2005
respectively and notified to the Company on 14 November 2005, Allianz AG , the
ultimate holding company of Cornhill, and its subsidiaries together with
Cornhill are interested in 2,066,919 ordinary shares of the Company. This
interest represents 4.3% of the issued share capital of the Company.


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