Holding(s) in Company

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

PETER HAMBRO MINING PLC

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

An acquisition or disposal of voting rights 

X

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): Increase in issued share capital

X

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

Baring Asset Management Limited (BAM) 

OppenheimerFunds, Inc. (OFI)

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

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

April  22, 2009

6. Date on which issuer notified:

April 24, 2009

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

5%, 4% (MassMutual fell below the 5% on a consolidated basis; BAM independently fell below the  4% threshold)

8. Notified details:

Investor Relations contact 

Director of External Communications

Alya Samokhvalova

Phone: +44 (0)20 7201 8900 Fax: +44 (0)20 7201 8901

Email: 

[email protected]

[email protected]

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 viii

Number of shares 

Number of voting rights ix

% of voting rights

Direct

Direct x

Indirect xi

Direct

Indirect

GB0031544546

BAM

OFI

6,760,772

1,798,000

6,760,772

1,798,000

6,379,003

1,798,000

6,379,003

1,798,000

3.73%

1.05%

B: Financial Instruments

Resulting situation after the triggering transaction xii

Type of financial instrument 

Expiration date xiii

Exercise/ Conversion Period/ Date xiv 

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

% of voting rights

Total (A+B)

Number of voting rights

% of voting rights

8,177,003

4.78%

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

As of April 22, 2009,  BAM's holdings fell below the 4% threshold to 3.73% of PETER HAMBRO MINING PLC (Issuer). MassMutual's holdings of the Issuer, on a consolidated basis, fell below the 5% threshold to 4.78%. OFI held 1.05% of the Issuer.  These calculations are based on outstanding shares of 171,083,485.

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:

Massachusetts Mutual Life Insurance Company is the parent company of BAM and OFI.

14. Contact name:

Jennifer Ryan, Massachusetts Mutual Life Insurance Company

15. Contact telephone number:

413.744.6618