Holding in Company

Glencar Mining PLC
05 November 2003

Glencar Mining Plc



05 November 2003

Re: Holding in Company


A Letter from CDC Capital Partners to Glencar Mining Plc dated 31 October 2003
received by Glencar Mining Plc on the 05 November 2003.


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


Glencar Mining Plc (The Company)


This notification relates to issued ordinary shares of Euro 0.031 each in the
capital of the company (the 'shares') and is given in fulfilment of the
obligations imposed by Sections 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
Release Agreement dated 4 September 2003 between (1) the Company, (2) Standard
Bank London Limited, (3) CDC Group plc and (4) The Law Debenture Trust
Corporation plc (the 'Release Agreement').



CDC Group plc hereby notifies you that:



 1. following the issue of shares to it pursuant to the Release Agreement, CDC
    Group plc 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: CDC Group plc, whose address is 1 Bessborough Gardens,
    London SW1V 2JO.



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
CDC Group Plc



This announcement has been issued through the Companies Announcement Service of

                           the Irish Stock Exchange.



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