Holding in Company

Conroy Diamonds & Gold PLC
24 May 2001

                  Conroy Diamonds & Gold plc ('the Company')

                              Holding in Company

The Company was informed yesterday that Everett Financial Management Limited
yesterday purchased as principal 1,100,000 ordinary shares of IEP0.025 each in
the Company, representing 6.49 per cent of the issued share capital.

Together with an existing shareholding of 200,000 ordinary shares held by an
affiliated company Everettinvest Limited, Everett Financial Management Limited
now has an interest in 1,300,000 ordinary shares of IEP0.025 each,
representing 7.66 per cent of the issued share capital.