Holding(s) in Company

Celtic Resources Holdings PLC
19 June 2002

Celtic Resources Holdings Plc

19 June 2002

Re: Holding in Company


A Letter from Gartmore Investment Management Plc dated 17 June 2002 to Celtic
Resources Holdings Plc, received by Celtic Resources Holdings Plc 18 June 2002.


We, Gartmore Investment Limited (GIL), Gartmore Fund Managers Limited (GFM) and
Gartmore Global Partners (GGP) write to advise you pursuant to Section 67 of the
Irish Companies Act 1990, that we have decreased our reportable interest in your
company by virtue of an amendment to the issued share capital on 13th June 2002.



1.      This notification relates to the ordinary EUR0.025 share capital of
Celtic Resources Holdings Plc.

2.      The identities of the beneficial holders of these shares and the number
of shares held by each holder, so far as is known at the date of this
notification, are shown on the attached schedule.

3.      The percentages quoted on the attached schedule are based on your new
issued share capital of 202,629,385 shares, as advised to us by Extel Financial
Limited





Alan Buddles

Head of Restrictions and Disclosures Unit

Gartmore Investment Management Plc







Security: Celtic Resources Holdings   Ord EUR0.025


Fund             Number of    Issued Share    % of Issue Fund        Beneficial Owner
                 Shares Held  Capital         Capital
Managing Co.
Gartmore Fund    6,520,605                    3.22%      56690       Gartmore Fund
Managers Limited                                                     Managers Ltd A/C
                                                                     Gartmore UK & Irish
                                                                     Smaller Companies
                                                                     Fund
                 6,520,605                    3.22%


Gartmore         2,738,654                    1.35%      GAGIG       Gartmore Absolute
Investment                                                           Growth and Income
Limited                                                              Trust Plc (Growth)
                 2,738,654                    1.35%
                 9,259,259    202,629,385     4.57%



This announcement has been issued through the Companies Announcement Service of
                           the Irish Stock Exchange.





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