Holding(s) in Company

Cairn Energy PLC
15 January 2008



TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES


1. Identity of the issuer or the underlying issuer    Cairn Energy
of existing shares to which voting rights are      --------------------
attached(1):
-------------------------------
2. Reason for the notification (please tick the appropriate box or boxes):
--------------------------------------------                             -------
An acquisition or disposal of voting rights                                X
--------------------------------------------                             -------
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                           
--------------------------------------------                            -------
3. Full name of person(s) subject to the           HSBC Holdings Plc
notification obligation(1):                        --------------------
-------------------------------
4. Full name of shareholder(s) (if different from
3.)(1):                                            --------------------
-------------------------------
5. Date of the transaction and date on which the
threshold is crossed or reached(1):                --------------------
-------------------------------
6. Date on which issuer notified:                  14th January 2008
-------------------------------                    --------------------
7. Threshold(s) that is/are crossed or reached:                             8%
-------------------------------                            --------------------




8. Notified details:

A: Voting rights attached to shares
Class/type   Situation        Resulting situation after the triggering transaction
of shares    previous to the  (1)
             Triggering
             transaction (1)
if possible
using the    Number Number of Number of     Number of voting       % of voting
ISIN CODE    of     Voting    shares        rights ix              rights
             Shares Rights    Direct        Direct x      Indirect Direct  Indirect
                    viii                                  xi

GB00B1RZDL64 N/A    N/A        11,486,529    11,486,529   N/A       8.78%  N/A

B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of     Expiration Exercise/       Number of voting rights that may  % of
financial   date xiii  Conversion      be acquired if the instrument is  voting
instrument             Period/ Date    exercised/ converted.             rights
                       xiv


Total (A+B)
Number of voting rights                      % of voting rights

         11,486,529                                8.78%



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

Halbis Capital Management (Hong Kong) Limited
Halbis Capital Management (UK) Ltd
HSBC Investments (Singapore) Ltd
HSBC Investments (UK) Ltd
Sinopia Asset Management (UK) Ltd



Proxy Voting:

10. Name of the proxy holder:                                              N/A

11. Number of voting rights proxy holder will cease to hold:               N/A

12. Date on which proxy holder will cease to hold voting rights:           N/A

13. Additional information:                          None

14. Contact name:                                    Chantal Sheehan

15. Contact telephone number:                        020 7024 1021





Notes to the Forms
--------------------------

(i) This form is to be sent to the issuer or underlying issuer and to be filed
with the competent authority.



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