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 no        
in the acquisition of shares already issued to which voting rights             
are attached                                                                   
                                                                               
An event changing the breakdown of voting rights                     no        
                                                                               
Other (please specify):______________                                no        
                                                                               
3. Full name of person(s) subject to    City Equities Ltd                      
notification obligation:                                                       
                                                                               
4. Full name of shareholder(s) (if                                             
different from 3):                                                             
                                                                               
5. Date of transaction (and date on     3 September 2008                       
which the threshold is crossed or                                              
reached if different):                                                         
                                                                               
6. Date on which issuer notified:       4 September 2008 (using old form),     
                                                                               
                                        5 September 2008 (using this form).    
                                                                               
7. Threshold(s) that is/are crossed or  5% to nil                              
reached:                                                                       

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

            Number of   Number of      Number of   Number of voting    Percentage of                  
            shares      voting         shares      rights              voting rights                  
                        rights                                                               
                                                 Direct  Indirect     Direct Indirect             
                                                                               
GB0033163287 4,500,000 4,500,000        nil        nil                  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)                       
                                                                               

Total (A+B)                                                                    
                                                                               
Number of voting rights                 Percentage of voting rights            
                                                                               
nil                                     nil                                    

9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:                     
                                                                               

Proxy Voting:                                                                  
                                                                               
10. Name of proxy holder:                                                      
                                                                               
11. Number of voting rights proxy                                              
holder will cease to hold:                                                     
                                                                               
12. Date on which proxy holder will                                            
cease to hold voting rights:                                                   

13. Additional information:             Shares sold to certain of our private  
                                        customers in the ordinary course of    
                                        City Equities' business, acting as     
                                        Principal.                             
                                                                               
14 Contact name:                        Jason Robertson.                       
                                                                               
15. Contact telephone name:             020 7489 5555