Interests of Directors

8th May 2008 14:22

Cairn Energy PLC08 May 2008 FOR IMMEDIATE RELEASE 8 May 2008 CAIRN ENERGY PLC ("Cairn" or "the Company") Interests of Directors/Persons Discharging Managerial Responsibility ("PDMRs") in the Company's Shares Awards under the Company's Long Term Incentive Plan 2006 ("the 2006 LTIP") Cairn announces that on 7 May 2008 the following awards were made under the 2006LTIP to Directors/a PDMR of the Company:- Number of Cairn India Number of Capricorn Units Units Director/PDMRSir Bill Gammell, 223,600 514,285Chief ExecutiveDr Mike Watts, 81,520 562,500Exploration DirectorMalcolm Thoms, 139,750 321,428Chief Operating OfficerPhil Tracy, 139,750 321,428Engineering & OperationsDirectorJann Brown, 116,460 267,857Finance DirectorSimon Thomson, 58,230 401,785Legal & Commercial DirectorRichard Heaton, 0 535,714Head of Exploration Under the 2006 LTIP, Cairn India Units and Capricorn Units are notional units ofvalue relating to the Company's holding in Cairn India and Capricorn Energyrespectively. All Cairn India Units were awarded at £3.22 per Unit (the price of a Cairn Indiashare as at close of business on 6 May 2008) and all Capricorn Energy Units at£1.40 per Unit (calculated in accordance with the provisions of the 2006 LTIP). Each of the above awards will ordinarily vest on or around the third anniversaryof grant, but only to the extent that specified performance conditions aresatisfied over a period of three years from the date of award. The value of aparticipant's vested Units will then be settled in the form of Ordinary Sharesof the Company. Following this announcement, the Directors'/PDMR's beneficial interests in theOrdinary Shares of the Company are as follows:- Director Number of % Issued Number Outstanding Awards Outstanding Awards /PDMR Ordinary Share of Share under 2002 LTIP Under 2006 LTIP Shares Capital Options Tier One Tier Two Cairn Capricorn India Units UnitsSir BillGammell 377,500 0.288 0 83,500 97,800 738,718 1,411,481Dr Mike 160,000 0.122 0 58,300 89,000 269,323 1,543,808WattsMalcolm 30,000 0.023 0 52,100 78,000 622,673 601,802ThomsPhil 0 0 0 50,200 59,500 461,699 882,176TracyJann 30,478 0.023 0 33,900 31,300 384,751 735,147BrownSimon 2,437 0.002 0 34,600 32,900 192,375 1,102,720ThomsonRichard 49,200 0.038 0 33,900 37,800 134,145 1,236,649Heaton This information is provided by RNS The company news service from the London Stock Exchange

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