Holding(s) in Company

Tertiary Minerals PLC
23 July 2002

                             Tertiary Minerals plc

                                ('The Company')

                               Holding in Company

Following the exercise of 3,160,000 warrants to subscribe for ordinary shares of
the Company, announced on 17 July 2002, RAB Capital is now interested in a total
of 3,160,000 ordinary shares of the Company, which represents 11.42 per cent. of
the Company's issued share capital

The ordinary shares are all held in the name of Morstan Nominees Limited on
behalf of the following companies, in the amounts indicated below:


RAB Europe Fund Ltd                        2,765,000 ordinary shares

RAB Europe Partners LP                       395,000 ordinary shares




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