Holding in Company

Glencar Mining PLC
17 November 2003

Glencar Mining Plc



17 November 2003


Re: Holding in Company


A letter from Standard Bank London Limited to Glencar Mining Plc dated 06
November 2003, received by Glencar Mining on the 17 November 2003.



Notice of an Interest in the relevant share capital of a Public Limited Company
under section 67 of the Companies Act 1990.


This notification relates to issued ordinary shares of Euro 0.031 each in the
capital of the company (the 'shares') and is given in fulfillment of the
obligations imposed by Section 67 to 71 of and otherwise by chapter 2 of part IV
of the Companies Act 1990 (the 'Act'). It is given in connection with a Deed of
Waiver dated 4 September 2003 between (1) the Company and (2) Standard Bank
London Limited.



Standard Bank London Limited hereby notifies you that:



 1. following the issue to its pursuant to the Deed of Wavier, Standard Bank
    London Limited was interested, for the purposes of Section 67 to 71 of the
    Act and/or by virtue of sections 73 and 74 of the Act in 12,000,000 shares:
    and
 2. the identity of the registered holder of the shares to which this
    notification relates and the number of such shares held by the registered
    holder is as follows: Standard Bank London Limited whose address is Cannon
    Bridge House, 25 Dowgate Hill, London EC4R 2SB.



Please record the above particulars in the Register maintained by you for the
purposes of Sections 67 to 71 of the Act, as required by Section 80 of the Act.



For and behalf of
Standard Bank London Limited



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




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