Holding(s) in Company

Celtic Resources Holdings PLC
23 December 2003


23 December 2003

    
      Celtic Resources Holdings plc ("Celtic Resources" or the "Company")
     
                              Substantial shareholding

The Company was notified on 22 December 2003 that Deutsche Bank AG and its
subsidiary companies hold 1,803,000 ordinary  shares representing 5.23% per
cent. of the Company's total issued ordinary share capital.

Deutsche Bank AG London Branch now holds 3,000 shares and 1,800,000 shares are
now held by other Deutsche Bank group  companies in customer portfolio, as
follows:

Holder                                         No. of shares held


Deutsche Investment Management Americas Co     1,650,000
DWS Investment GmbH                            150,000


Russian investment bank United Financial Group have placed the ordinary shares
sold with US and European institutional  investors.





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