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 acquisition or    |
|                                            | disposal of voting   |
|                                            | rights               |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 3. Full name of person(s) subject to the   |    Credit Suisse     |
| notification obligation:                   | Securities (Europe)  |
|                                            |       Limited        |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 4. Full name of shareholder(s) (if         |                      |
| different from 3):                         |                      |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 5. Date of the transaction (and date on    |       10.10.08       |
| which the threshold is crossed or reached  |                      |
| if different):                             |                      |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 6. Date on which issuer notified:          |       14.10.08       |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 7. Threshold(s) that is/are crossed or     |      5%, 4%, 3%      |
| reached:                                   |                      |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 8. Notified details:                       |                      |
+-------------------------------------------------------------------+



+------------------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                                       |
|------------------------------------------------------------------------------------------|
|Class/type of shares |Situation previous to the|Resulting situation after the triggering  |
| if possible using   |Triggering transaction   |transaction                               |
|the ISIN CODE        |-------------------------+------------------------------------------|
|                     |Number of   |Number of   |Number|Number of voting|% of voting rights|
|                     |Shares      |Voting      |of    |rights          |                  |
|                     |            |Rights      |shares|                |                  |
|                     |            |            |------+----------------+------------------|
|                     |            |            |      |Direct |Indirect|Direct   |Indirect|
|---------------------+------------+------------+------+-------+--------+---------+--------|
|GB00B142P698         |12,891,268  |12,891,268  |N/A   |N/A    |N/A     |BELOW 3% |N/A     |
+------------------------------------------------------------------------------------------+



+-------------------------------------------------------------------+
| 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.      |        |
|------------+------------+--------------+-----------------+--------|
|            |            |              |                 |        |
+-------------------------------------------------------------------+



+----------------------------------------------+
| Total (A+B)                                  |
|----------------------------------------------|
| Number of voting rights | % of voting rights |
|-------------------------+--------------------|
| N/A                     | BELOW 3%           |
+----------------------------------------------+



+-------------------------------------------------------------------+
| 9. Chain of controlled undertakings through which the voting      |
| rights and/or the financial instruments are effectively held, if  |
| applicable:                                                       |
|-------------------------------------------------------------------|
| Credit Suisse Securities (Europe) Limited and Credit Suisse       |
| International are part of the Investment Banking division of      |
| Credit Suisse ("CSIBD"), which is part of the Credit Suisse Group |
| ("CSG").  CSIBD is a segregated business unit within CSG with an  |
| independent management structure and exercises its voting rights  |
| independently from other divisions of CSG.                        |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| PROXY VOTING:                                                     |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 10. Name of the proxy holder:             |                       |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 11. Number of voting rights proxy holder  |                       |
| will cease to hold:                       |                       |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 12. Date on which proxy holder will cease |                       |
| to hold voting rights:                    |                       |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 13. Additional information:               |                       |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 14. Contact name:                         | Simon Crawley         |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 15. Contact telephone number:             | [phone]      |
+-------------------------------------------------------------------+


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  |                            |
| legal entities)                      |                            |
|--------------------------------------+----------------------------|
| Contact address (registered office   |                            |
| for legal entities)                  |                            |
|--------------------------------------+----------------------------|
| Phone number                         |                            |
|--------------------------------------+----------------------------|
| Other useful information (at least   |                            |
| legal representative for legal       |                            |
| persons)                             |                            |
+-------------------------------------------------------------------+



+-------------------------------------------------------------------+
| B:         Identity of the notifier, if applicable                |
|-------------------------------------------------------------------|
| Full name:                                                 | N/A  |
|------------------------------------------------------------+------|
| 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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This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.