Holding in Company

Metals Exploration PLC
16 May 2006


                     Metals Exploration Plc ('the Company')

                      Notification of significant holding


16 May 2006


Under sections 198 to 202 of the Companies Act 1985 and rule 17 of the AIM Rules
the following information falls to be disclosed.


The Company was notified of the following shareholdings:


  Ordinary Shares of 1           Registered Name         Date Company notified     Percentage of current
     pence each held                                                              issued share capital of
                                                                                        the Company

        2,189,812             Man Financial Limited           12 May 2006                  4.21


                      This information is provided by RNS
            The company news service from the London Stock Exchange