Holding(s) in Company

Cairn Energy PLC
09 February 2004



FOR IMMEDIATE RELEASE


                                                                 9 February 2004

                           CAIRN ENERGY PLC ('Cairn')

   Notification of Shareholding - Companies Act 1985 ss.198-202 (as amended)

Cairn was notified on 9 February 2004 by the AEGON UK plc Group of Companies
('the Group') that, following the purchase of 465,556 shares, the Group has an
interest in 4,633,575 ordinary shares of 10 pence each in Cairn, representing
3.08% of Cairn's current issued ordinary share capital.

The AEGON UK plc Group of Companies means Scottish Equitable plc, Scottish
Equitable (Managed Funds) Limited, AEGON Fund Management UK ltd, Scottish
Equitable Trustees Limited, Guardian Assurance plc, Guardian Linked Life
Assurance Limited, Guardian Pensions Management Limited and Guardian Unit
Managers Limited.

The registered shareholder to which this notification relates and the number of
shares held by the registered holder at the date of notification is as follows:-

REGISTERED HOLDER                       NUMBER OF                            %
                                        SHARES

Chase Nominees                          4,633,575                         3.08


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