Re: Holding in Company

Ormonde Mining PLC
27 October 2004



Ormonde Mining plc



27 October 2004



Re: Holding in Company



A Letter from Gartmore Investment Management plc dated 25th October 2004 to
Ormonde Mining plc, received by the Irish Stock Exchange 27th 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 decreased our reportable interest in
your company by virtue of a sale 1,000,000 shares on 22nd October 2004.



1.

This notification relates to ORD EURO0.025 (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 percentage quoted on the attached schedule are based on your issued share
capital of 118,511,480 as advised to us by Exshare 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 clients
funds listed

on the attached schedule and, accordingly having voting 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 clients
funds concerned and we do not know of anyone who is party to any agreement to
which Section 73 of the "Act" applies.







Alan Buddles

Head of Restrictions and Disclosure Unit

For and on behalf of Gartmore Investment Management plc











Current Holdings by Fund Manager





ORMONDE MG (IRE-EX) ORD EURO.025


Fund Managing Co. Number of Shares  Issued Share      Percentage of     Fund              Beneficial Owner
                  Held              Capital           Issue Capital
Gartmore Fund         5,920,000                            4.995%             56690       Gartmore Fund
Managers Limited                                                                          Managers Ltd A/C
                                                                                          Gartmore UK &
                                                                                          Irish Smaller
                                                                                          Companies
                                                                                          Strategy Fund
                      5,920,000                            4.995%
Gartmore              1,000,000                             0.844             GAGIG       Gartmore Absolute
Investment                                                                                Growth and Income
Limited                                                                                   Trust plc
                                                                                          (Growth)
Gartmore              3,200,000                            2.700%             56550       Gartmore Irish
Investment                                                                                Growth Fund Ltd
Limited
                      4,200,000                            3.544%
                     10,120,000        118,511,480         8.539%











This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange














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