Re Agreement

Falkland Islands Holdings PLC
8 March 2002


FALKLAND ISLANDS HOLDINGS plc ('the Company')
TERMINATION OF SECONDMENT AGREEMENT DATED 5 NOVEMBER 1997
BETWEEN THE COMPANY, ANGLO UNITED LIMITED AND GEORGE ROGER WALLACE

The Company announces that yesterday it gave 12 months notice of termination of
its Agreement dated 5 November 1997 with Anglo United Limited, under which the
services of George Roger Wallace, the Company's Finance Director, are made
available to the Company. Mr. Wallace will continue in accordance with the terms
of the aforementioned Agreement as Finance Director during the notice period
whilst discussions take place on future agreements.




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