Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares
to which voting rights are attached:
Metals Exploration plc

2. Reason for the notification
Placing of shares 15 May 2008 admitted to market 30 June 2008

3. Full name of person(s) subject to the notification obligation:
City Natural Resources High Yield Trust

4. Full name of shareholder(s) (if different from 3):
N/A

5. Date of the transaction (and date on which the threshold is
crossed or reached if different):
20 May 2008

6. Date on which issuer notified:
7 July 2008

7. Threshold(s) that is/are crossed or reached:
3%

8. Notified details:

A: Voting rights attached to shares


Class/type   Situation of        Resulting Situation after the triggering
of shares if previous to the     transaction
possible     Triggering
using ISIN   transaction
code         Number of Number of Number of Number of voting   % of voting
             shares    voting    shares    rights             rights
                       rights              Direct    Indirect Direct Indirect
GB00B0394F60 2,250,000 2,250,000 3,750,000 3,750,000          3.35%


B: Financial Instruments


Resulting Situation after the triggering transaction
Type of    Expiration Exercise /   Number of Voting rights     % of
Financial  Date       Conversion   that may be acquired if the voting
Instrument            Period /Date instrument is exercised /   rights
                                   converted



Total (A + B)


Number of Voting Rights % of voting rights
       3,750,000              3.35%


9. Chain of controlled undertakings through which the voting rights
and/or the financial instruments are effectively held, if applicable


          Client           No of Voting % of Voting Registration Name
                              Rights      Rights
  City Natural Resources    3,750,000      3.35%    GSBC GS Nominees
     High Yield Trust                                      Ltd


Proxy Voting:

10. Name of the proxy holder:
CQS Cayman Limited Partnership

11. Number of voting rights proxy holder will cease to hold:
N/A

12. Date on which proxy holder will cease to hold voting rights:
N/A

13. Additional information:
N/A

14. Contact name:
Peter Fraser, F&C Asset Management plc as Administrator of City
Natural Resources High Yield Trust

15. Contact telephone number:
0131 716 1051




Metals Exploration plc        020 7927 6690
Jonathan Beardsworth

Hanson Westhouse Limited      0113 246 2610
Tim Feather / Matthew Johnson

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