Holding(s) in Company

Lupus Capital PLC
05 June 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1)   Name of company
Lupus Capital plc


2) Name of shareholder having a major interest
Aviation Adventures Ltd


3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18
The shareholder named in 2 above


4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them
Schweco Nominees Limited.

5) Number of shares/amount of stock acquired
500,000


6) Percentage of issued class
0.29%


7) Number of shares/amount of stock disposed
-


8) Percentage of issued class
-


9) Class of security
Ordinary shares of 0.5p


10) Date of transaction
30 May 2003


11) Date company informed
2 June 2003 (received 5 June due change of address)


12) Total holding following this notification
5,420,000


13) Total percentage holding of issued class following this notification
3.18%


14) Any additional information
-


15) Name of contact and telephone number for queries

J.L. Luetchford  0207-490-4355


16) Name of authorised company official responsible for
making this notification

J.L. Luetchford

Date of notification 5 June 2003



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