Holding(s) in Company

Celtic Resources Holdings PLC
01 December 2003



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

                            Substantial shareholding

The Company was notified on 28 November 2003 that Deutsche Bank AG and its 
subsidiary companies hold 4,919,744 ordinary shares in Celtic Resources which
represents 14.3 per cent. of its total issued ordinary share capital.

Deutsche Bank AG London Branch now holds 3,319,744 shares and 1,600,000 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                           1,450,000
DWS Investment GmbH                                                    150,000



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