Holding in Company

Lupus Capital PLC
4 January 2001

                 LUPUS CAPITAL PLC ('Lupus' or the 'Company')                 


Lupus announces that, following the purchase on 15 December 2000 by Friends
Ivory and Sime Plc ('Friends Ivory') of 500,000 ordinary 0.5p shares in the
Company ('Ordinary Shares'), Friends Ivory now holds 5,537,794 Ordinary
Shares.  This holding, on behalf of Discovery Trust Plc, represents 3.26 per
cent of the issued ordinary share capital of the Company and is registered
under Chase Nominees Ltd.