Holding(s) in Company

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| TR-1:                     | NOTIFICATION OF MAJOR INTERESTS IN    |
|                           | SHARES                                |
|                           |                                       |
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| 1. Identity of the issuer or the           | African Consolidated |
| underlying issuer of existing shares to    | Resources Plc        |
| which voting rights are attached:          |                      |
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|                                                                   |
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| 2. Reason for the notification:            | An acquisition or    |
|                                            | disposal of voting   |
|                                            | rights               |
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|                                                                   |
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| 3. Full name of person(s) subject to the   |   City Securities    |
| notification obligation:                   |       Limited        |
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|                                                                   |
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| 4. Full name of shareholder(s) (if         |                      |
| different from 3):                         |                      |
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|                                                                   |
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| 5. Date of the transaction and date on     |    27 November 09    |
| which the threshold is crossed or reached: |                      |
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|                                                                   |
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| 6. Date on which issuer notified:          |   8 December 2009    |
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|                                                                   |
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| 7. Threshold(s) that is/are crossed or     |          3%          |
| reached:                                   |                      |
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|                                                                   |
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| 8. Notified details:                       |                      |
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+-----------------------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                                            |
|-----------------------------------------------------------------------------------------------|
|Class/type of      |Situation previous to|Resulting situation after the triggering transaction |
|shares             |the Triggering       |                                                     |
| if possible using |transaction          |                                                     |
|the ISIN CODE      |---------------------+-----------------------------------------------------|
|                   |Number of |Number of |Number of |Number of voting rights|% of voting rights|
|                   |Shares    |Voting    |shares    |                       |                  |
|                   |          |Rights    |----------+-----------------------+------------------|
|                   |          |          |Direct    |Direct      |Indirect  |Direct  |Indirect |
|-------------------+----------+----------+----------+------------+----------+--------+---------|
|GB00B142P698       |7,550,000 |7,550,000 |14,030,482|14,030,482  |-         |3.92%   |3.92%    |
+-----------------------------------------------------------------------------------------------+



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| B: Qualifying Financial Instruments                               |
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| Resulting situation after the triggering transaction              |
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| Type of    | Expiration | Exercise/   | Number of voting | % of   |
| financial  | date       | Conversion  | rights that may  | voting |
| instrument |            | Period      | be acquired if   | rights |
|            |            |             | the instrument   |        |
|            |            |             | is exercised/    |        |
|            |            |             | converted.       |        |
|------------+------------+-------------+------------------+--------|
|            |            |             |                  |        |
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+---------------------------------------------------------------------------------+
|C: Financial Instruments with similar economic effect to Qualifying Financial    |
|Instruments                                                                      |
|---------------------------------------------------------------------------------|
|Resulting situation after the triggering transaction                             |
|---------------------------------------------------------------------------------|
|Type of     |Exercise  |Expiration  |Exercise/   |Number of      |% of voting    |
|financial   |price     |date        |Conversion  |voting rights  |rights         |
|instrument  |          |            |Period      |instrument     |               |
|            |          |            |            |refers to      |               |
|------------+----------+------------+------------+---------------+---------------|
|            |          |            |            |               |Nominal |Delta |
|            |          |            |            |               |--------+------|
|            |          |            |            |               |        |      |
+---------------------------------------------------------------------------------+



+-------------------------------------------------------+
| Total (A+B+C)                                         |
|-------------------------------------------------------|
| Number of voting rights | Percentage of voting rights |
|-------------------------+-----------------------------|
| 14,030,482              | 3.92%                       |
+-------------------------------------------------------+



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| 9. Chain of controlled undertakings through which the voting      |
| rights and/or the financial instruments are effectively held, if  |
| applicable:                                                       |
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| All of the above holding are held in a nominee account with       |
| Pershings Securities Ltd.                                         |
|                                                                   |
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|                                                                   |
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| PROXY VOTING:                                                     |
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|                                                                   |
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| 10. Name of the proxy holder:             |                       |
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|                                                                   |
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| 11. Number of voting rights proxy holder  |                       |
| will cease to hold:                       |                       |
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|                                                                   |
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| 12. Date on which proxy holder will cease |                       |
| to hold voting rights:                    |                       |
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|                                                                   |
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| 13. Additional information:               |                       |
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|                                                                   |
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| 14. Contact name:                         | Jonathan Sleath -     |
|                                           | Williams de Broe      |
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|                                                                   |
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| 15. Contact telephone number:             | 0207 072 7538         |
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Enquiries:


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| African Consolidated Resources plc |                              |
| Andrew Cranswick                   | [phone]              |
| Roy Tucker                         | [phone] / +44 7920   |
|                                    | 189012                       |
|------------------------------------+------------------------------|
| Ambrian Partners Limited           |                              |
| Richard Greenfield                 | [phone]             |
|                                    |                              |
|                                    |                              |
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This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.