Holding in Company

Lupus Capital PLC
31 January 2001


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

Lupus announces that, following the purchase on 30 January 2001 by Friends
Ivory and Sime Plc ('Friends Ivory') of 4,180,000 ordinary 0.5p shares in the
Company ('Ordinary Shares'), Friends Ivory now holds 12,037,794 Ordinary
Shares.  This holding, on behalf of Discovery Trust Plc, represents 7.10 per
cent of the issued ordinary share capital of the Company and is registered
under Chase Nominees Ltd.