Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer

of existing shares to which voting rights are

attached:

Avarae Global Coins 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 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 the

notification obligation:

LANDSBANKI ISLANDS HF.

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

PERSHING NOMINEES LIMITED

5. Date of the transaction and date onwhich the threshold is crossed or

reached:

10 December 2010

6. Date on which issuer notified:

14 December 2010

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

reached:

ALL THRESHOLDS BETWEEN 18% AND 5%

8. Notified details:

A: Voting rights attached to shares

Class/type

of shares

if possible using the ISIN CODE

Situation previousto 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

Direct

Indirect

Direct

Indirect

GB00B137SQ61

15,200,000

15,200,000

4,200,000

4,200,000

0

5.2

5.2

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial

instrument

Expiration date

Exercise/ Conversion Period

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

% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial

instrument

Exercise price

Expiration date

Exercise/ Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

% of voting rights

4,200,000

5.2

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

Proxy Voting:

10. Name of the proxy holder:

N/A

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:

Bupa Gandhi,

Landsbanki London Branch

15. Contact telephone number:

+44(0)20 7866 5081