Palmaris Capital PLC
22 February 2008


22 February 2008


               Palmaris Capital Plc ('Palmaris' or the 'Company')

                              Notifiable Interest


Palmaris announces that it received notification on 22 February 2008 that
Waverton Holdings Limited ('Waverton') acquired 1,405,295 ordinary shares at a
price of 5.75 pence per share on 22 February 2008 (the 'Acquisition'). Following
the Acquisition, Waverton has a notifiable interest in 55,463,335 ordinary
shares of 5p each in the Company, representing 35.57% of the issued share
capital of the Company.

This represents the entire holding of Waverton in the issued share capital of
the Company.

Following an extraordinary general meeting of the Company held on 19 February
2007 warrant holders agreed to cancel warrants on a cashless basis, in exchange
for the issue of fully-paid ordinary Palmaris shares. Through the issue of new
shares Waverton was diluted from 35.57% to 34.67%.  As a result it is able to
buy back 1,405,295 shares to increase its holding to 55,463,335 or 35.57% of the
Company's diluted issued share capital.

In accordance with Note 11 on Rule 9.1 of the Takeover Code, The Panel on
Takeovers and Mergers has agreed that there is no requirement for Waverton to
make a general offer as a result of the Acquisition.


For further information please contact:

Greg Melgaard, Managing Director                                   07799 657 553

Nick Naylor / Jamie Boyd, Noble & Company Limited                  020 7763 2200



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