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    RAB CAPITAL PLC ACTING AS DISCRETIONARY
notification obligation:                MANAGER OF RAB SPECIAL SITUATIONS      
                                        (MASTER) FUND LIMITED                  
                                                                               
4. Full name of shareholder(s) (if      CREDIT SUISSE CLIENT NOMINEES (UK)     
different from 3):                      LIMITED                                
                                                                               
5. Date of transaction (and date on     28/05/08                               
which the threshold is crossed or                                              
reached if different):                                                         
                                                                               
6. Date on which issuer notified:       30/05/08                               
                                                                               
7. Threshold(s) that is/are crossed or                                         
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                                                                        
Shares                                                                             
                                                                   
                                                                                
GB0033163287                                                                    
                                                                                                                                                          

               Number of   Number      Number   Number of voting   Percentage of                  
               shares      of          of       rights             voting rights                  
                           voting      shares                                                     
                           rights                                                              
                                                                                         
                                                                                       
                                       Direct    Direct Indirect  Direct  Indirect               
               8,750,000   10.82%         n/a       n/a     0        n/a      0%                                   
                                                       
                                                                              

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)                       
                                                                               
n/a            n/a            n/a             n/a                n/a           

Total (A+B)                                                                    
                                                                               
Number of voting rights                 Percentage of voting rights            
                                                                               
See above                               0%                                     

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:               n/a                                    
                                                                               
11. Number of voting rights proxy       n/a                                    
holder will cease to hold:                                                     
                                                                               
12. Date on which proxy holder will     n/a                                    
cease to hold voting rights:                                                   

13. Additional information:             n/a                                    
                                                                               
14 Contact name:                        LEGAL TEAM                             
                                                                               
15. Contact telephone name:             020 7389 7000                          

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