Avocet Mining PLC - Holding in Company

RNS No 2670e
AVOCET MINING PLC

                    DEALINGS BY SUBSTANTIAL SHAREHOLDERS

1)  NAME OF COMPANY

AVOCET MINING PLC

2)  NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

GUINNESS MAHON HOLDINGS PLC

3)  Please state whether notification indicates that it is in respect of holding
    of the Shareholder named in 2 above or in respect of a non-beneficial
    interest or in the case of an individual holder if it is a holding of that
    person's spouse or children under the age of 18

NON BENEFICIAL INTEREST

4)  Name of the registered holder(s) and, if more than one holder, the number of
    shares held by each of them.

BELL NOMINEES                 1,502,972
R&R NOMINEES                     10,500
TUDOR NOMINEES                    2,000
QUAY NOMINEES                   180,100

5)  Number of shares/amount of stock acquired.

1,695,572

6)  (4.74%) of issued Class

7)  Number of shares/amount of stock disposed

N/A

8)  ( N/A %) of issued Class

9)  Class of security

ORDINARY

10) Date of transaction

N/A

11) Date company informed

15.10.97

12) Total holding following this notification

1,695,572

13) Total percentage holding of issued class following this notification

4.74%

14) Any additional information

N/A

15) Name of contact and telephone number for queries

ALAN FRASER
0171 834 1811

16) Name and signature of authorised company official responsible for making
    this notification

    Date of Notification...16.10.97.............


END


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