Holding(s) in Company

20 January 2011

Tanzanite One Limited

("TanzaniteOne" or the "Company")

Notification of interest

Disclosure of Interest in Shares

BlackRock UK Smaller Companies Trust PLC has advised the Company that it has increased its shareholding in the company from 3,688,462 shares to 4,742,462 shares. This represents a 4.10% interest in the issued capital of the TanzaniteOne.

For more information, please visit www.tanzaniteone.com or contact:

Willi Boehm, Company Secretary

+61 8 9367 5211

Bernard Olivier, Chief Executive Director

+61 4089 48182

Nominated Adviser and Broker

Ambrian Partners Limited

Samantha Harrison/Richard Chase

+44 (0) 20 7634 4700

Joint Broker

XCAP Securities PLC

John Grant/Jon Belliss/David Newton

+44 (0) 20 7101 7070

Public Relations

Threadneedle Communications

Laurence Read/ Beth Harris

+44 (0) 20 7653 9850