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

This notification is to reset the Allianz Group's reportable holdings
to zero, following the sale of Dresdner Bank AG to the Commerzbank
Group.  A further notification will be submitted shortly, if
appropriate, by the Allianz Group and/or Commerzbank Group, following
a recalculation of the group's interests.

3. Full name of person(s) subject to the notification obligation:

Allianz SE

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):

12 January 2009

6. Date on which issuer notified:

14 January 2009

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

10.45%

8. Notified details:

A: Voting rights attached to shares


Class/type   Situation of previous Resulting Situation after the
of shares if to the Triggering     triggering transaction
possible     transaction
using ISIN   Number of  Number of  Number Number of       % of voting
code         shares     voting     of     voting rights   rights
                        rights     shares Direct Indirect Direct Indirect
GB00B0394F60 11,701,919 11,701,919                          0


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
                                0


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






Proxy Voting:

10. Name of the proxy holder:


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:

This notification is to reset the Allianz Group's reportable holdings
to zero, following the sale of Dresdner Bank AG to the Commerzbank
Group.  A further notification will be submitted shortly, if
appropriate, by the Allianz Group and /or Commerzbank Group,
following a recalculation of the group's interests.

14. Contact name:

Dresdner Kleinwort Media Relations Team

15. Contact telephone number:

020 7623 8000




Metals Exploration plc        020 7927 6690
Jonathan Beardsworth

Hanson Westhouse Limited      0113 246 2610
Tim Feather / Matthew Johnson

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This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.