Holding(s) in Company

Lupus Capital plc has received the following notification of a major
interest in its shares.


TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares
to which voting rights are attached (ii):
Lupus Capital plc

2. Reason for the notification (please state Yes/No): (    )

An acquisition or disposal of voting rights: (Yes)

An acquisition or disposal of financial instruments which may result
in the acquisition of shares already issued to which voting rights
are attached: (No)

An event changing the breakdown of voting rights: (No)

Other (please specify) : (No  )
Initial disclosure

3. Full name of person(s) subject to the notification obligation
(iii):
Polar Capital Partners

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

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

6. Date on which issuer notified:
    23 April 2007

7. Threshold(s) that is/are crossed or reached:
3%

8. Notified details:
N/A


A: Voting rights attached to shares


Class/type of shares if possible Situation previous to the Triggering
using the ISIN CODE                        transaction (vi)
                                 Number of shares   Number of voting
                                 23,571,428         Rights (viii)
                                                    23,571,428



Resulting situation after the triggering transaction (vii)


Class/type of    Number of Number of voting rights % of voting rights
shares if        shares    (ix)
possible using
the ISIN CODE
                 Direct    Direct (x)   Indirect   Direct   Indirect
                 N/A       56,526,049   (xi)       4.12     N/A
                                        N/A


B: Financial Instruments
Resulting situation after the triggering transaction (xii)


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



Total (A+B)

Number of voting rights % of voting rights

56,526,049              4.12%



9. Chain of controlled undertakings through which the voting rights
and/or the financial instruments are effectively held, if applicable
(xv):
N/A

Proxy Voting:

10. Name of the proxy holder:
  N/A

11. Number of voting rights proxy holder will cease to hold:
  N/A

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

13. Additional information:
 N/A

14. Contact name:
  Mr A McBrierty

15. Contact telephone number:
  0131 338 2411


C: Additional information :
Name of person making this announcement on behalf of Lupus Capital
plc.

Mr J Luetchford
Tel: [phone]

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