Holding(s) in Company

RNS Number : 2611G

Petrofac Limited

20 October 2008

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:

Petrofac Limited

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

An acquisition or disposal of voting rights: (X)

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) : ( )

……………..

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

Petrofac ESOP Trustees Limited (PETL)

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

……………..

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

16 October 2008

6. Date on which issuer notified:

17 October 2008

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

Below 4%

8. Notified details:

……………..

A: Voting rights attached to shares

Class/type of shares if possible using the ISIN CODE

Situation previous to the Triggering transaction

Number of shares

Number of voting Rights

Ordinary

GB00B0H2K534

13,898,911

Resulting situation after the triggering transaction

Class/type of shares if possible using the ISIN CODE

Number of shares

Number of voting rights

% of voting rights

Direct

Indirect

Direct

Indirect

Ordinary

GB00B0H2K534

13,798,911

3.99

B: Financial Instruments

Resulting situation after the triggering transaction

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

Total (A+B)

Number of voting rights	% of voting rights
13,798,911	3.99

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:

……………..

12. Date on which proxy holder will cease to hold voting rights:

……………..

13. Additional information:

PETL holds shares in Petrofac Limited on behalf of current and former employees of the Petrofac group. The movement in shares held by PETL since its previous notification on 30 October 2007 is as a result of a series of individual sales and transfers by PETL on behalf of employees between 30 October 2007 and 16 October 2008 and PETL's disposal of 104,460 shares on behalf of employees in early October 2008 upon expiry of Petrofac Limited's third phase of Lock-up arrangements put in place at flotation.