Holding in Company

Cardinal Resources plc
25 January 2006


HOLDINGS IN COMPANY

LONDON - Wednesday, 25th January 2006

Cardinal Resources plc (AIM:CDL) ('Cardinal' or 'The Company'), an independent
oil and gas production and exploration company operating in Ukraine, was today
notified that, following a purchase of shares, Deutsche Bank AG and its
subsidiary companies have an interest in 9,220,000 Cardinal Ordinary Shares,
representing 8.05% of the issued Ordinary Share capital of the Company.

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For further information please contact:

Cardinal Resources             Parkgreen Communications
Kate Spiro                     Justine Howarth / Victoria Thomas
[phone]           [phone]
[e-mail]         [e-mail]

Notes to Editor

Cardinal Resources plc
Cardinal Resources plc is an independent oil and gas production and exploration
company with assets in Ukraine. Cardinal is an experienced operator in the
country focused on expanding its existing operations through the farm-in or
acquisition of additional upstream oil and gas assets that can be further
developed through the application of modern technology and expertise.




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