Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Hansteen Holding 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 qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

Ruffer LLP (for its discretionary clients)

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

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

09 May 2011

6. Date on which issuer notified:

10 May 2011

7. Threshold(s) that is/are crossed orreached: vi, vii

4% to 5%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B0PPFY88

22,625,772

22,625,772

35,229,522

35,229,522

-

5.51

-

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

35,229,522

5%

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

N/A

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

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

13. Additional information:

Ruffer now controls the voting rights over 35,229,522 shares (5% of the voting rights) of Hansteen Holdings Plc.

The change in percentage voting rights is due to Ruffer LLP's clients receiving and purchasing of an aggregate of 12,603,750 shares from Hansteen Holdings Plc's placing and open offer of 185,185,186 shares. As a result our percentage voting rights increased from 4% to 5%.

These new shares were admitted to trading on 09 May 2011.

14. Contact name:

Louise Stanway

15. Contact telephone number:

020 7963 8146

Annex: Notification of major interests in sharesxxii

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Ruffer LLP

Contact address

(registered office for legal entities)

80 Victoria Street

London SW1E 5JL

Phone number & email

020 7963 8146

[email protected]

Other useful information

(at least legal representative for legal persons)

Louise Stanway, Compliance Officer

B: Identity of the notifier, if applicable

Full name

Ruffer LLP

Contact address

80 Victoria Street

London SW1E 5JL

Phone number & email

020 7963 8146

[email protected]

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

Louise Stanway, Compliance Officer

C: Additional information

Ruffer now controls the voting rights over 35,229,522 shares (5% of the voting rights) of Hansteen Holdings Plc.

The change in percentage voting rights is due to Ruffer LLP's clients receiving and purchasing of an aggregate of 12,603,750 shares from Hansteen Holdings Plc's placing and open offer of 185,185,186 shares. As a result our percentage voting rights increased from 4% to 5%.

These shares were admitted to trading on 09 May 2011.