Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares
to which voting rights are attached:

Metals Exploration plc

2. Reason for the notification

Fresh Start notification in the context of reallocation and threshold
related recalculation of reportable holdings due to the new formation
of Allianz Group and Commerzbank Group.

3. Full name of person(s) subject to the notification obligation:

Allianz SE

4. Full name of shareholder(s) (if different from 3):

Allianz Insurance plc

5. Date of the transaction (and date on which the threshold is
crossed or reached if different):

12 January 2009

6. Date on which issuer notified:

15 January 2009

7. Threshold(s) that is/are crossed or reached:

10%

8. Notified details:

A: Voting rights attached to shares


Class/type of Situation of   Resulting Situation after the triggering
shares if     previous to    transaction
possible      the Triggering
using ISIN    transaction
code          Number  Number Number Number of voting  % of voting
              of      of     of     rights            rights
              shares  voting shares
                      rights        Direct Indirect   Direct Indirect
GB00B0394F60                               12,001,919         10.69


B: Financial Instruments


Resulting Situation after the triggering transaction
Type of    Expiration Exercise /   Number of Voting rights     % of
Financial  Date       Conversion   that may be acquired if the voting
Instrument            Period /Date instrument is exercised /   rights
                                   converted



Total (A + B)


Number of Voting Rights % of voting rights
      12,001,919                0


9. Chain of controlled undertakings through which the voting rights
and/or the financial instruments are effectively held, if applicable

Allianz SE is the ultimate holding company of Allianz Europe Ltd,
which is the major holding company of Allianz (UK) Limited, which is
the holding company of Allianz Holdings Plc, which is the major
holding company of Allianz Insurance Plc.





Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

Fresh Start notification in the reallocation and threshold related
recalculation of reportable holdings due to the new formation of
Allianz Group and Commerzbank Group.

14. Contact name:

Allianz SE Group Compliance

15. Contact telephone number:

[phone]




Metals Exploration plc        020 7927 6690
Jonathan Beardsworth

Hanson Westhouse Limited      0113 246 2610
Tim Feather / Matthew Johnson

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