Caspian Completes £80,000 Placing

Caspian Holdings Plc

("Caspian" or the "Company")

24 June 2011

Caspian Completes £80,000 Placing

Caspian Holdings plc, the oil and gas development company with assets in the USA, is pleased to announce it has completed a placement of 25,000,000 ordinary shares of 0.1p per share ("Ordinary Shares") at 0.32p per Ordinary Share to raise £80,000. 25,000,000 shares were placed to Michael Masterman, a director of the Company. The net proceeds from the placing will be used to finance the current working capital requirements of the Company.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM which is expected to occur on 29 June 2011.

Related Party Transaction

The Directors (other than Michael Masterman), having consulted with Grant Thornton Corporate Finance (in its capacity as the Company's nominated adviser), confirm that they are satisfied that the terms of Michael Masterman`s participation in the placing are fair and reasonable insofar as the shareholders of the Company are concerned.

Following the issue of the new Ordinary Shares, Michael Masterman, will be interested in 186,694,010, Ordinary Shares in the Company representing an interest of 39.63 per cent in the total voting rights of the Company.

Following this placing, the Company will have 471,065,131 Ordinary Shares of 0.1p in issue.

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