Holdings in Company

Metals Exploration Plc
                           ("the Company")

                         Holdings in Company

The Company  were  notified  on 9th  October  2007  that,  Investment
Managers, Baker Steel Capital Managers LLP have group holdings in the
Company totalling 6,478,000 shares, representing approximately  7.09%
of the voting rights attaching to shares of the Company.

The shares are held as follows:


Holder          Registered Name         Ordinary Percentage of issued
                                       Shares of share capital of the
                                    1 pence each              Company
                                            held
Genus Dynamic   HSBC Global Custody    2,636,000                 2.88
Gold Fund       Nominee (UK)
                Limited

CF Ruffer Baker The Bank of New        2,335,000                 2.56
Steel Gold Fund York (Nominees)
                Limited
RIT Capital     The Bank of New          777,000                 0.85
Partners PLC    York (Nominees)
                Limited
Select Gold     Vidacos Nominees         730,000                 0.80
Fund            Limited (Citigroup)




                                                    12th October 2007

For further information contact:


Metals Exploration plc
Jonathan Beardsworth CEO       + 44 (0) 7747 101 552

Collins Stewart Europe Limited
Adrian Hadden                  +44  (0) 20 7523 8350

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