Holdings in Company

+-------------------------------------------------------------------+
| TR-1:                     | NOTIFICATION OF MAJOR INTERESTS IN    |
|                           | SHARES                                |
|                           |                                       |
|-------------------------------------------------------------------|
| 1. Identity of the issuer or the           | African Consolidated |
| underlying issuer of existing shares to    |    Resources plc.    |
| which voting rights are attached:          |                      |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 2. Reason for the notification:            | An increase in the   |
|                                            | issued share capital |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 3. Full name of person(s) subject to the   |   GLG Partners LP    |
| notification obligation:                   |                      |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 4. Full name of shareholder(s) (if         |    Not Applicable    |
| different from 3):                         |                      |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 5. Date of the transaction (and date on    |       03.11.08       |
| which the threshold is crossed or reached  |                      |
| if different):                             |                      |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 6. Date on which issuer notified:          |       21.11.08       |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 7. Threshold(s) that is/are crossed or     |         <10%         |
| reached:                                   |                      |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 8. Notified details:                       |        9.991%        |
+-------------------------------------------------------------------+



+-------------------------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                                              |
|-------------------------------------------------------------------------------------------------|
|Class/type of    |Situation previous to the|Resulting situation after the triggering transaction |
|shares           |Triggering transaction   |                                                     |
| if possible     |-------------------------+-----------------------------------------------------|
|using the ISIN   |Number of   |Number of   |Number of |Number of voting rights|% of voting rights|
|CODE             |Shares      |Voting      |shares    |                       |                  |
|                 |            |Rights      |----------+-----------------------+------------------|
|                 |            |            |Direct    |Direct      |Indirect  |Direct  |Indirect |
|-----------------+------------+------------+----------+------------+----------+--------+---------|
|Ordinary Shares  |22,480,951  |22,480,951  |22,380,951|22,380,951  |          |9.991%  |         |
|of 1p each       |            |            |          |            |          |        |         |
|GB00B142P698     |            |            |          |            |          |        |         |
+-------------------------------------------------------------------------------------------------+



+-------------------------------------------------------------------+
| B: Financial Instruments                                          |
|-------------------------------------------------------------------|
| Resulting situation after the triggering transaction              |
|-------------------------------------------------------------------|
| Type of    | Expiration | Exercise/    | Number of       | % of   |
| financial  | date       | Conversion   | voting rights   | voting |
| instrument |            | Period/ Date | that may be     | rights |
|            |            |              | acquired if the |        |
|            |            |              | instrument is   |        |
|            |            |              | exercised/      |        |
|            |            |              | converted.      |        |
|------------+------------+--------------+-----------------+--------|
| Not        |            |              |                 |        |
| Applicable |            |              |                 |        |
+-------------------------------------------------------------------+



+----------------------------------------------+
| Total (A+B)                                  |
|----------------------------------------------|
| Number of voting rights | % of voting rights |
|-------------------------+--------------------|
| 22,380,951              | 9.991%             |
+----------------------------------------------+



+-------------------------------------------------------------------+
| 9. Chain of controlled undertakings through which the voting      |
| rights and/or the financial instruments are effectively held, if  |
| applicable:                                                       |
|-------------------------------------------------------------------|
| GLG Partners is an investment management firm investing money on  |
| behalf of clients and investment funds.                           |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| PROXY VOTING:                                                     |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 10. Name of the proxy holder:              |    Not Applicable    |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 11. Number of voting rights proxy holder   |    Not Applicable    |
| will cease to hold:                        |                      |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 12. Date on which proxy holder will cease  |    Not Applicable    |
| to hold voting rights:                     |                      |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 13. Additional information:                | Not Applicable       |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 14. Contact name:                          | Alison O'Neill       |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 15. Contact telephone number:              | 020 7016 7423        |
+-------------------------------------------------------------------+


Annex Notification Of Major Interests In Shares

+-------------------------------------------------------------------+
| A: Identity of the person or legal entity subject to the          |
| notification obligation                                           |
|-------------------------------------------------------------------|
| Full name (including legal form for     | GLG Partners LP         |
| legal entities)                         |                         |
|-----------------------------------------+-------------------------|
| Contact address (registered office for  | 1 Curzon Street, London |
| legal entities)                         | W1J 5HB                 |
|-----------------------------------------+-------------------------|
| Phone number                            | 020 7016 7423           |
|-----------------------------------------+-------------------------|
| Other useful information (at least      |                         |
| legal representative for legal persons) |                         |
+-------------------------------------------------------------------+



+-------------------------------------------------------------------+
| B:         Identity of the notifier, if applicable                |
|-------------------------------------------------------------------|
| Full name:                                       | Not Applicable |
|--------------------------------------------------+----------------|
| Contact address:                                 | N/A            |
|--------------------------------------------------+----------------|
| Phone number:                                    | N/A            |
|--------------------------------------------------+----------------|
| Other useful information (e.g. functional        |                |
| relationship with the person or legal entity     |                |
| subject to the notification obligation):         |                |
+-------------------------------------------------------------------+



+-----------------------------------+
| C:         Additional information |
|-----------------------------------|
|                                   |
+-----------------------------------+


Enquiries:


+-------------------------------------------------------------------+
| African Consolidated Resources plc |                              |
| Andrew Cranswick                   | [phone]              |
| Roy Tucker                         | [phone] / +44 7920   |
|                                    | 189012                       |
|------------------------------------+------------------------------|
| Ambrian Partners Limited           |                              |
| Richard Brown                      | [phone]             |
| Richard Greenfield                 |                              |
|                                    |                              |
|                                    |                              |
+-------------------------------------------------------------------+

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