Executive Option Scheme

Falkland Islands Holdings PLC
14 July 2006


14th July 2006


Falkland Islands Holdings plc (the 'Company')
Falkland Islands Holdings plc Executive Option Scheme (the 'Scheme')

The Directors' of the Company listed below were granted an option to subscribe
for ordinary shares in the Company on 13th July 2006 under the following terms:

(a)
                           Maximum number of Ordinary    Total Options held         Price per Share
                           Shares of 10 pence each to    following new grant
                                  be acquired
D L Hudd                             59,843                    190,554                317.5 pence

J L Foster                           28,346                    100,155                317.5 pence



The new Options are exercisable from 12th July 2009 to 12th July 2016.

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




M D West
Falkland Islands Holdings plc
Group Company Secretary


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