Holding in Company

Ryanair Holdings PLC
25 July 2007

A letter from Fidelity International Limited dated 24th July 2007 to Ryanair
Holdings Plc, received by the Irish Stock Exchange on 25th July 2007.











Standard Form TR-1
Voting rights attached to shares- Article 12(1) of directive 2004/109/EC
Financial instruments - Article 11(3) of the Commission Directive 2007/14/EC(i)

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

2.         Reason for the notification (please tick the appropriate box or
boxes):

(X )    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

3.         Full name of person(s) subject to the notification obligation(iii):
FMR Corp and Fidelity International Limited and their direct subsidiaries

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

5.         Date of the transaction and date on which the threshold is crossed or
reached(v): 19 July 2007

6.         Date on which issuer notified; 24 July 2007

7.         Threshold(s) that is/are crossed or reached: 9%

8.         Notified details:


A) Voting rights attached to shares
Class/type of shares Situation previous to the       Resulting situation after the triggering transaction(vii)
(if possible using   Triggering transaction (vi)
the ISIN CODE)       Number of       Number of       Number of shares Number of voting rights % of voting rights
                     Shares(viii)    Voting rights   (x)              (xi)
                                     (ix)            Direct           Direct(xii)    Indirect Direct      Indirect
                                                                                     (xiii)
IE00B1GKF381         137,729,923     137,729,923     136,453,246      136,453,246             8.98

SUBTOTAL A (based on 137,729,923                     136,453,246      136,453,246             8.98
aggregate voting
rights)


B) Financial Instruments
Resulting situation after the triggering transaction(xiv)
Type of financial   Expiration Date    Exercise/Conversion   Number of voting       % of voting rights
instrument          (xv)               Period/ Date(xvi)     rights that may be
                                                             acquired if the
                                                             instrument is
                                                             exercised/converted


                                       SUBTOTAL B (in
                                       relation to all
                                       expiration dates)


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




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

10.       In case of proxy voting: (FMR Corp and Fidelity International Limited)
will cease to hold (1,276,677) voting rights as of (19 July 2007).

11.       Additional information:

Done at (place) on (date).











Annex to the standard form TR-1 (xviii)

a)         Identity of the person or legal entity subject to the notification
obligation:
Full name (including legal form for legal entities)      FMR Corp and Fidelity International Limited (FIL)
Contact address (registered office for legal entities)   FMR Corp - 82 Devonshire Street, Boston, MA, 02109
                                                         USA

                                                         FIL - Pembroke Hall, 42 Crow Lane, Pembroke, HM19
                                                         Bermuda
Phone number                                             44 (0) 1737 836  713
Other useful information (at least legal representative  Company Secretary
for legal persons)

b)         Identity of the notifier, if applicable(xix):
Full name                                                FMR Corp and Fidelity International Limited (FIL)
Contact address                                          Windmill Court XTW2B, Millfield Lane, Lower
                                                         Kingswood, Tadworth, Surrey KT20 6RB
Phone number                                             44 (0) 1737 836  713
Other useful information (e.g. functional relationship   Authorised to make this filing under power of
with the person or legal entity subject to the           attorney
notification obligation)

c)         Additional information











Notes to Form TR-1



--------------------------


(i)               This form is to be sent to the issuer or underlying issuer and
to be filed with the competent authority.




(ii)               Either the full name of the legal entity or another method
for identifying the issuer or underlying issuer, provided it is reliable and
accurate.




(iii)              This should be the full name of (a) the shareholder; (b) the
natural person or legal entity acquiring, disposing of or exercising voting
rights in the cases provided for in Article 10 (b) to (h) of Directive 2004/109/
EC; (c) all the parties to the agreement referred to in Article 10 (a) of that
Directive, or (d) the holder of financial instruments entitled to acquire shares
already issued to which voting rights are attached, as appropriate.



In relation to the transactions referred to in points (b) to (h) of Article 10
of that Directive, the following list is provided as indication of the persons
who should be mentioned:



-               in the circumstances foreseen in letter (b) of Article 10 of
that Directive, the natural person or legal entity that acquires the voting
rights and is entitled to exercise them under the agreement and the natural
person or legal entity who is transferring temporarily for consideration the
voting rights;



-               in the circumstances foreseen in letter (c) of Article 10 of
that Directive, the natural person or legal entity holding the collateral,
provided the person or entity controls the voting rights and declares its
intention of exercising them, and natural person or legal entity lodging the
collateral under these conditions;



-               in the circumstances foreseen in letter (d) of Article 10 of
that Directive, the natural person or legal entity who has a life interest in
shares if that person or entity is entitled to exercise the voting rights
attached to the shares and the natural person or legal entity who is disposing
of the voting rights when the life interest is created;



-               in the circumstances foreseen in letter (e) of Article 10 of
that Directive, the controlling natural person or legal entity and, provided it
has a notification duty at an individual level under Article 9, under letters
(a) to (d) of Article 10 of that Directive or under a combination of any of
those situations, the controlled undertaking;



-               in the circumstances foreseen in letter (f) of Article 10 of
that Directive, the deposit taker of the shares, if he can exercise the voting
rights attached to the shares deposited with him at his discretion, and the
depositor of the shares allowing the deposit taker to exercise the voting rights
at his discretion;



-               in the circumstances foreseen in letter (g) of Article 10 of
that Directive, the natural person or legal entity that controls the voting
rights;



-               in the circumstances foreseen in letter (h) of Article 10 of
that Directive, the proxy holder, if he can exercise the voting rights at his
discretion, and the shareholder who has given his proxy to the proxy holder
allowing the latter to exercise the voting rights at his discretion.


(iv)              Applicable in the cases provided for in Article 10 (b) to (h)
of Directive 2004/109/EC. This should be the full name of the shareholder who is
the counterparty to the natural person or legal entity referred to in Article 10
of that Directive unless the holdings of the shareholder would be lower than 5%
of the total number of voting rights.




(v)               The date of the transaction should normally be, in the case of
an on exchange transaction, the date on which the matching of orders occurs; in
the case of an off exchange transaction, date of the entering into an agreement.




The date on which threshold is crossed should normally be the date on which the
acquisition, disposal or possibility to exercise voting rights takes effect. For
passive crossings, the date when the corporate event took effect.[DEL: :DEL]




(vi)              Please refer to the situation disclosed in the previous
notification. In case the situation previous to the triggering transaction was
below 3%, please state 'below 3%'.




(vii)             If the holding has fallen below the minimum threshold, the
notifying party should not be obliged to disclose the extent of the holding,
only that the new holding is below 3%.



For the case provided for in Article 10(a) of Directive 2004/109/EC, there
should be no disclosure of individual holdings per party to the agreement unless
a party individually crosses or reaches an Article 9 threshold. This applies
upon entering into, introducing changes to or terminating an agreement.




(viii)             To be used in Member States where applicable.




(ix)              Direct and indirect.




(x)               To be used in Member States where applicable.




(xi)              In case of combined holdings of shares with voting rights
attached 'direct holding' and voting rights 'indirect holding', please split the
voting rights number and percentage into the direct and indirect columns - if
there is no combined holdings, please leave the relevant box blank.




(xii)             Voting rights attached to shares held by the notifying party
(Article 9 of Directive 2004/109/EC).




(xiii)             Voting rights held by the notifying party independently of
any holding of shares (Article 10 of Directive 2004/109/EC).




(xiv)             If the holding has fallen below the minimum threshold, the
notifying party should not be obliged to disclose the extent of the holding,
only that the new holding is below 3%.




(xv)             Date of maturity/expiration of the financial instrument i.e.
the date when right to acquire shares ends.




(xvi)             If the financial instrument has such a period - please specify
this period - for example once every 3 months starting from (date).




(xvii)            The notification should include the name(s) of the controlled
undertakings through which the voting rights are held. The notification should
also include the amount of voting rights and the percentage held by each
controlled undertaking, [DEL:i:DEL]nsofar as individually the controlled
undertaking holds 3% or more, and insofar as the notification by the parent
undertaking is intended to cover the notification obligations of the controlled
undertaking.




(xviii)           This annex is only to be filed with the competent authority.




(xix)             Whenever another person makes the notification on behalf of
the shareholder or the natural person/legal entity  referred to in Articles 10
and 13 of Directive 2004/109/EC


















Schedule

Issuer name: RYANAIR HOLDINGS PLC

Current ownership percentage:                          8.98%

Total Shares Held                                136,453,246

Shares in issue:                               1,519,459,860


                                                                MANAGEMENT
                                               SHARES HELD        COMPANY      NOMINEE/REGISTERED NAME

Fidelity International Limited (FIL) is the        1,420,700      FIGEST       CDC FINANCE
parent
holding company for various direct and            52,219,795       FMRCO       BROWN BROTHERS HARRIMAN AND CO
indirect
subsidiaries, including Fidelity Fund              3,680,000       FMRCO       STATE STREET BANK AND TR CO
Management
Limited (FFML), Fidelity Investment Services      41,016,280       FMRCO       JPMORGAN CHASE BANK
Ltd
(FISL), Fidelity Gestion (FIGEST), Fidelity           87,000       FMRCO       MELLON BANK N.A.
Investments Advisory (Korea) Limited              11,715,414       FISL        JP MORGAN, BOURNEMOUTH
(FIAKL),
Fidelity Investments Management (Hong Kong)          799,600        FIL        BNP PARIBAS, PARIS
Limited (FIMHK), Fidelity Pension Management       2,266,376        FIL        JPMORGAN, BOURNEMOUTH
(FPM), Fidelity Investments Japan (FIJ) and       18,513,054        FIL        BROWN BROS HARRIMN LTD LUX
Fidelity
Investments International (FII), investment        1,724,761        FIL        BANK OF NEW YORK BRUSSELS
managers
for various non-US investment companies and        1,690,748        FIL        NORTHERN TRUST LONDON
institutional clients.                             1,319,518        FIL        STATE STREET BANK AND TR CO LDN

FMR Corp is the parent holding company of
Fidelity
Management & Research Company (FMRCO),
investment
manager for US mutual funds, and Fidelity
Management Trust
Company (FMTC), a US state chartered bank
which acts as
a trustee or investment manager of various
pension and trust accounts.












 This announcement has been issued through
   the Companies Announcement Service of

         the Irish Stock Exchange.








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