Holding(s) in Company

Lupus Capital PLC
16 January 2004


                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

Lupus Capital PLC............................................................

2. Name of shareholder having a major interest

Greg Hutchings.........................................................

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18

Person named in 2......................................................

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them

Greg Hutchings...................................................

5. Number of shares / amount of stock acquired

6,466,056................................................

6. Percentage of issued class

3.74%................................................

7. Number of shares / amount of stock disposed

...............................................................

8. Percentage of issued class

...............................................................

9. Class of security

Ordinary Shares of 0.5p......................................................

10. Date of transaction

16 January 2004...................................................


11. Date company informed

16 January 2004................................................

12. Total holding following this notification

6,466,056................................................

13. Total percentage holding of issued class following this notification

3.74%...............................................................

14. Any additional information

The Company announced on 16 January 2004 Proposals for the appointment of Mr
Hutchings as Executive
Chairman............................................................

15. Name of contact and telephone number for queries

John Luetchford, Cavendish Administration Limited
020 7490 4355...............................................................

16. Name and signature of authorised company official responsible for making
this notification

Cavendish Administration Limited, Company Secretary
...............................................................

Date of notification

16 January 2004.......................................

The FSA does not give any express or implied warranty as to the accuracy of this
document or material and does not accept any liability for error or omission.
The FSA is not liable for any damages (including, without limitation, damages
for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
any such material.




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