Re: Section 198 Notification

Glencar Mining PLC
23 November 2004

Glencar Mining plc



23 November 2004



Re: Holding in Company





A letter from Calyon Corporate and Investment Bank to Glencar Mining plc dated
15 November 2004, received by Glencar Mining plc on 23 November 2004.



We write to notify you, in accordance with Section 198 of the Companies Act
1985, that Credit Lyonnaise Securities no longer has any interest in Glencar
Mining EUR0.031 (SEDOL 0372538) ordinary shares.  Further, Credit Lyonnaise
Cheuvreux International Ltd has an interest in 5,500,000 of the above
representing 3.2% of the company's issued Ordinary shares (based on there being
173,404,467 such shares in issue).



These shares are or will be registered in the name Credit Agricole Cheuvreux
International Ltd.  Both Credit Lyonnais Securities and Credit Agricole
Cheuvreux International are part of the Calyon group of companies.







Caroline Scott

Compliance Executive

Calyon Corporate and Investment Bank





This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange











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