Director Shareholding

Falkland Islands Holdings PLC
11 February 2005


FALKLAND ISLANDS HOLDINGS PLC ('The Company') 
FALKLAND ISLANDS HOLDINGS PLC Executive Share Option Scheme ('The Scheme')

Mr John L. Foster, Deputy Managing Director of the Company, was granted an
option to subscribe for ordinary shares in the Company on 10 February 2005 under
the following terms:

a) The maximum number of shares to be acquired under the option to be 57,692 
   ordinary shares of 10 pence each at a price of 520 pence each.

b) There is no consideration to be paid for the granting of the option.




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