Re: Holding in Company

Ormonde Mining PLC
04 October 2004

Ormonde Mining Plc



04 October 2004



Re: Holding in Company





A Letter from Gartmore Investment Management Plc dated 28 September 2004 to
Ormonde Mining Plc, received by Ormonde Mining Plc on the 01 October 2004.



We, Gartmore Investment Limited (GIL), Gartmore Fund Managers Limited (GFM) and
Gartmore Global Partners (GGP),  write to advise you pursuant to Section 67 of
the Irish Companies Act 1990, that we have increased our  reportable interest in
your company due to a purchase of 2,000,000 shares on the 24 September 2004.



1.      This notification relates to the ordinary EUR0.025 (IRE-EX) share
capital of Ormonde Mining Plc.



2.      The identities of the beneficial holders of these shares and the number
of shares held by each holder, so far as is known at the date of this
notification, are shown on the attached schedule.

3.      The percentages quoted on the attached schedule are based on your new
issued share capital of 118,511,480 shares, as advised to us by Extel Financial
Limited.



4.      The total number of shares comprises the aggregated holdings controlled
by GIL,GFM and GGP, as discretionary investment managers of the clients and
client funds listed on the attached schedule and; accordingly having power in
respect of the shares and power to dispose of them.

5.      The shares are held for investment purposes only for the clients and
client funds concerned and we do not know who is party to any agreement to which
Section 73 of the "Act" applies.







Alan Buddles

Head of Restrictions and Disclosures Unit

Gartmore Investment Management Plc





Current Holdings by Fund Manager



Security:Ormonde Mining (IRE-EX) Ord Eur0.025


Fund         Number of    Issued Share  % of Issue Fund                 Beneficial Owner
Managing Co. Shares Held  Capital       Capital
Gartmore     5,920,000                  4.995%     56890                Gartmore Fund Managers
Fund                                                                    Ltd A/C Gartmore UK &
Managers                                                                Irish Smaller
Limited                                                                 Companies Fund
             5,920,000                  4.995%
Gartmore     1,000,000                  0.844%     GAGIG                Gartmoer Absolute
Investment                                                              Growth and Income
Limited                                                                 Trust Plc (Growth)
Gartmore     4,200,000                  3.544%     56550                Gartmore Irish Growth
Investment                                                              Fund Plc
Limited
             5,200,000    4.388%
             11,120,000   118,511,480   9.383%





This announcement has been issued through the Companies Announcement Service of

                           the Irish Stock Exchange.






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