Holding(s) in Company

Cardinal Resources plc
27 April 2005


                             Cardinal Resources plc

                      Announcement of notifiable interest


The Board of Directors of the Ukrainian oil and gas producer and explorer
Cardinal Resources plc has been notified yesterday by Goldman Sachs Group, Inc.
of 85 Broad Street, New York, NY 10004, USA of its interest, as at 21 April
2005, in 4,132,813 ordinary shares of 20p each, representing 4.7% of the issued
share capital of the company.

The interest in these shares arose from Goldman, Sachs & Co., a wholly-owned
direct subsidiary of Goldman Sachs Group, Inc., acting as custodian for its
customers.

The shares are, or will be, registered in the name of Goldman Sachs Securities
(Nominees), Limited.


Contacts:

Names:                         Tel No:

Charles Green               020 7936 5250
CFO
Franziska Stahlknecht    020 7936 5250
Investor Relations


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