Holding(s) in Company

Metals Exploration PLC
22 March 2007



TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES



1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

Metals Exploration Plc.................



2. Reason for the notification (please place an X inside the appropriate 
bracket/s):



An acquisition or disposal of voting rights: (    )



An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: (    )



An event changing the breakdown of voting rights: (    )



Other (please specify) : ( X   )

...Notification under DTR Rule 5.8.3R..............



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

Allianz SE.................



4. Full name of shareholder(s) (if different from 3.) (iv):

Allianz Cornhill Insurance PLC



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

.................



6. Date on which issuer notified:

21/03/2007.................



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

10%.................



8. Notified details:

.................



A: Voting rights attached to shares


Class/type of shares if possible           Situation previous to the Triggering transaction (vi)
using the ISIN CODE
                                  Number of shares                   Number of voting Rights (viii)




Resulting situation after the triggering transaction (vii)


Class/type of shares if      Number of shares         Number of voting rights (ix)      % of voting rights
possible using the ISIN CODE
                                                      Direct (x)   Indirect (xi)        Direct      Indirect


 GB00B0394F60                 8191919                 8191919                            10.70



B: Financial Instruments

Resulting situation after the triggering transaction (xii)


Type of         Expiration Date       Exercise/Conversion       Number of voting rights     % of voting rights
financial       (xiii)                Period/ Date (xiv)        that may be acquired if the
instrument                                                      instrument is exercised/
                                                                converted.






Total (A+B)
Number of voting rights        % of voting rights


8191919                        10.70



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

Allianz SE is the ultimate holding company of Allianz Cornhill Insurance plc 
('Cornhill').The shares in Cornhill are held by Allianz UK Limited, which is a
direct subsidiary of Allianz Europe Limited ('Allianz Europe') which is itself a
66.66% owned subsidiary of Allianz SE.. The other 33.33% of shares in Allianz
Europe are owned by AllianzLebensvericherungs AG ('Allianz Leben'), a direct
subsidiary of Jota Vermogensverwaltungs GmbH ('Jota'), which is itself a direct
subsidiary of Allianz SE..................



Proxy Voting:



10. Name of the proxy holder:

...N/A..............



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:

...Steven Smith..............



15. Contact telephone number:

...07797 721 858..............


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