Holding(s) in Company

Beowulf Mining PLC
20 March 2007


TR-1(i): notification 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(ii):                     |                              |
+---------------------------------------------+----------------------+-------+
|2. Reason for the notification (please tick the appropriate box or  |       |
|boxes)                                                              |       |
+--------------------------------------------------------------------+-------+
|An acquisition or disposal of voting rights                         |       |
+--------------------------------------------------------------------+-------+
|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): Statutory notification for holding above 3% |   X   |
+---------------------------------------------+----------------------+-------+
|3. Full name of person(s) subject to the     |    RAB SPECIAL SITUATIONS    |
|notification obligation(iii):                |      (MASTER) FUND LTD       |
+---------------------------------------------+------------------------------+
|4. Full name of shareholder(s) (if different |CREDIT SUISSE CLIENT NOMINEES |
|from 3.)(iv):                                |         (UK) LIMITED         |
+---------------------------------------------+------------------------------+
|5. Date of the transaction (and date on which|             n/a              |
|the threshold is crossed or reached if       |                              |
|different)(v):                               |                              |
+---------------------------------------------+------------------------------+
|6. Date on which issuer notified:            |20/03/2007 (holding as at 16/ |
|                                             |           03/2007)           |
+---------------------------------------------+------------------------------+
|7. Threshold(s) that is/are crossed or       |           ABOVE 3%           |
|reached:                                     |                              |
+---------------------------------------------+------------------------------+
|8. Notified details:                         |             n/a              |
+---------------------------------------------+----------------------+-------+
+---------------------------------------------+----------------------+-------+



+-----------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                                |
+---------+-------------------+-----------------------------------------------------+
|Class/   |Situation previous |Resulting situation after the triggering             |
|type of  |to the Triggering  |transaction (vii)                                    |
|shares   |transaction (vi)   |                                                     |
|         +----------+--------+--------+---------------------+----------------------+
|if       |Number of |Number  |Number  |Number of voting     |% of voting rights    |
|possible |Shares    |of      |of      |rights ix            |                      |
|using the|          |Voting  |shares  |                     |                      |
|ISIN CODE|          |Rights  +--------+-----------+---------+--------+----------+
|         |          |viii    |Direct  |Direct x   |Indirect |Direct  |Indirect  |
|         |          |        |        |           |xi       |        |          |
+---------+----------+--------+--------+-----------+---------+--------+----------+
|         |          |        |        |           |         |        |          |
|         |          |        |        |           |         |        |          |
|ORDINARY |9000000   |13.55%  |n/a     |n/a        |n/a      |13.55%  |13.55%    |
|SHARES   |          |        |        |           |         |        |          |
+---------+----------+--------+--------+-----------+---------+--------+----------+
|B: Financial Instruments                                                           |
+-----------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction xii                           |
+---------------+-----------+--------------------+---------------------+------------+
|Type of        |Expiration |Exercise/ Conversion|Number of voting     |% of        |
|financial      |date xiii  |Period/ Date xiv    |rights that may be   |voting      |
|instrument     |           |                    |acquired if the      |rights      |
|               |           |                    |instrument is        |            |
|               |           |                    |exercised/ converted.|            |
+---------------+-----------+--------------------+---------------------+------------+
|      n/a      |n/a        |        n/a         |n/a                  |n/a         |
+---------+-----+----+------+-+--------+---------+-+---------+---------+-+----------+
+---------+-----+----+------+-+--------+---------+-+---------+---------+-+----------+
+-----------------------------------------------------------------------------+
|Total (A+B)                                                                  |
+-------------------------------------+---------------------------------------+
|Number of voting rights              |% of voting rights                     |
+-------------------------------------+---------------------------------------+
|                                     |                                       |
|                                     |                                       |
|A ONLY                               |13.55%                                 |
+-------------------------------------+---------------------------------------+


+-----------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and/or   |
|the financial instruments are effectively held, if applicable xv:            |
+-----------------------------------------------------------------------------+
|RAB Capital plc acts as investment manager for RAB SPECIAL SITUATIONS        |
|(MASTER) FUND LTD. RAB Capital plc does not act as custodian for its clients |
|and therefore the shares are held in the nominee name of the custodian of its|
|clients, which is CREDIT SUISSE CLIENT NOMINEES (UK) LIMITED.                |
|                                                                             |
|                                                                             |
|                                                                             |
+-----------------------------------------------------------------------------+
|Proxy Voting:                                                                |
+------------------------------------------------+----------------------------+
|10. Name of the proxy holder:                   |n/a                         |
+------------------------------------------------+----------------------------+
|11. Number of voting rights proxy holder will   |n/a                         |
|cease to hold:                                  |                            |
+------------------------------------------------+----------------------------+
|12. Date on which proxy holder will cease to    |n/a                         |
|hold voting rights:                             |                            |
+------------------------------------------------+----------------------------+
|13. Additional information:                     |n/a                         |
+------------------------------------------------+----------------------------+
|14. Contact name:                               |LEGAL TEAM                  |
+------------------------------------------------+----------------------------+
|15. Contact telephone number:                   |020 7389 7000               |
+------------------------------------------------+----------------------------+






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