Holding(s) in Company

Form TR-1 with annex. FSA Version 2.1 updated April 2007

For filings with the FSA include the annex  
                                            
For filings with issuer exclude the annex   

TR-1: Notifications of Major Interests in Shares                               
                                                                               
1. Identity of the issuer or the underlying     Beowulf Mining PLC             
issuer of existing shares to which voting                                      
rights are attached:                                                           
                                                                               
2. Reason for notification (yes/no)                                            
                                                                               
An acquisition or disposal of voting rights                          Yes       
                                                                               
An acquisition or disposal of financial instruments which may result           
in the acquisition of shares already issued to which voting rights             
are attached                                                                   
                                                                               
An event changing the breakdown of voting rights                               
                                                                               
Other (please specify):______________                                          
                                                                               
3. Full name of person(s) subject to    David Christian Steinepreis            
notification obligation:                                                       
                                                                               
4. Full name of shareholder(s) (if      Same as 3                              
different from 3):                                                             
                                                                               
5. Date of transaction (and date on     28 May 2008                            
which the threshold is crossed or                                              
reached if different):                                                         
                                                                               
6. Date on which issuer notified:       30 May 2008                            
                                                                               
7. Threshold(s) that is/are crossed or  10.82%                                 
reached:                                                                       

8: Notified Details                                                            
                                                                               
A: Voting rights attached to shares                                            
                                                                               
Class/type  Situation         Resulting situation after the triggering         
of shares   previous to the   transaction                                      
            triggering                                                         
If possible transaction                                                        
use ISIN                                                                       
code                                                                           
                                                                               
Ordinary                                                                       

          Number   Number     Number of   Number of voting   Percentage of                  
          of       of         shares      rights             voting rights                  
          shares   voting                                                               
                   rights                                                        
                                                                                     
             Nil      Nil       Direct     Direct  Indirect   Direct  Indirect               
                                                                                
                               8,750,000   8,750,000    Nil    10.82%     Nil                    
                                                                              

B: Financial Instruments                                                       
                                                                               
Resulting situation after the triggering transaction                           
                                                                               
Type of        Expiration     Exercise/       No. of voting      Percentage of 
financial      date           conversion      rights that may be voting rights 
instrument                    period/date     acquired (if the                 
                                              instrument                       
                                              exercised/                       
                                              converted)                       
                                                                               

Total (A+B)                                                                    
                                                                               
Number of voting rights                 Percentage of voting rights            
                                                                               
8,750,000                               10.82%                                 

9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:                     
                                                                               
Not Applicable                                                                 

Proxy Voting:                                                                  
                                                                               
10. Name of proxy holder:               Not Applicable                         
                                                                               
11. Number of voting rights proxy       Not Applicable                         
holder will cease to hold:                                                     
                                                                               
12. Date on which proxy holder will     Not Applicable                         
cease to hold voting rights:                                                   

13. Additional information:                                                    
                                                                               
14 Contact name:                                                               
                                                                               
15. Contact telephone name:                                                    

For notes on how to complete form TR-1 please see the FSA website.