Holding in Company

Fusion Oil & Gas PLC
10 January 2001

STOCK EXCHANGE ANNOUNCEMENT

FUSION OIL & GAS PLC ('the Company')

10 January 2001

HOLDING IN COMPANY

The Company was informed on 9 January 2001 by Framlington Innovative Growth
Trust PLC ('FIGT') that, following a purchase of 300,000 ordinary shares of 1p
each in the Company ('Shares') on 8 January 2001, FIGT are now interested in
2,800,000 Shares, representing 3.07% of the Company's issued ordinary share
capital.

These shares are registered in the name of HSBC Global Custody Nominee (UK)
Limited a/c 811366.

END