Disclosure of Holdings

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Baltic Oil Terminals Plc

2. Reason for the Notification -(please tick the appropriate box or boxes)

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An event changing the breakdown of voting rights

Other (please specify): Rights Issue

3. Full name of person(s) subject to the notification obligation:

Rathbone Brothers plc

4. Full name of shareholder(s) (if different from 3.):

Rathbone Brothers plc

Rathbone Investment Management Ltd

Rathbone Unit Trust Management Ltd

5. Date of the transaction (and date on which the threshold is crossed or reached if different):

09.07.08

6. Date on which issuer notified:

10.07.08

7. Threshold(s) that is/are crossed or reached

5%

8. Notified details:

N/A

A: Voting rights attached to shares

Class/type of shares

If possible using the ISIN CODE

Situation previous to the Triggering transaction 

Resulting situation after the triggering transaction 

Number of Shares

Number of Voting Rights 

Number of shares

Number of voting rights 

% of voting rights

Direct 

Indirect 

Direct

Indirect

GB00B12V3082

3,059,759

3,059,759

N/A

N/A

1,655,286

N/A

2.97%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date 

Exercise / Conversion Period / Date 

Number of voting rights that may be acquired if the instrument is exercised / converted.

% of voting rights

N/A

N/A

N/A

N/A

N/A

Total (A+B)

Number of voting rights

% of voting rights

1,655,286

2.97%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

Rathbone Brothers plc*

Rathbone Investment Management Limited 0.001%

Rathbone Unit Trust Management Limited 2.966%

*Rathbone Brothers plc is the holding of the following.

Proxy Voting 

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

 Enquiries:

21 July 2008

Baltic Oil Terminals plc

+74 012 532 369

Pelham PR

Archie Berens

+44(0) 20 7743 6679

+44(0)78 0244 2486

Evgeniy Chuikov

+44(0) 20 3008 5506

+44(0)78 9460 8606