Re: Holding in Company

Glencar Mining PLC
01 November 2004

Glencar Mining Plc



01 November 2004





Re: Holding in Company


A letter from CALYC Corporate and Investment Bank to Glencar Mining Plc dated 01
November 2004, received by Glencar Mining on the 01 November 2004.





Section 198 Notification



We write to notify you, in accordance with Section 198 of the Companies Act 1985
that Credit Lyonnais Securities has an interest in 15,000,000 Glencar Mining
EUR0.031 (Sedol 0372538)representing 3.2% of the company's issued Ordinary
Shares (based on there being 173,404,467 such shares in issue)



These shares are or will be registered in the name of Clearing Nominees, a
nominee company of Credit Lyonnais Securities.



Yours faithfully



Caroline Scott

Compliance Executive

CALYC

Corporate and Investment Bank









This announcement has been issued through the Companies Announcement Service of

                           the Irish Stock Exchange.






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