Palmaris Capital PLC
25 February 2008



25 February 2008


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

                              Notifiable Interest


Palmaris announces that it received notification on 22 February 2008 that
Patersons Quarries Limited ('Patersons Quarries') acquired 1,500,000 ordinary
shares in the Company at a price of 5.75 pence per share on 22 February 2008
(the 'Acquisition').  Following the Acquisition, Patersons Quarries, together
with W.Paterson, director of both Palmaris and Patersons Quarries who, for the
purposes of the Takeover Code, is regarded as acting in concert with Patersons
Quarries (the 'Patersons Quarries Concert Party'), has a notifiable interest in
54,765,972 ordinary shares of 5p each in the Company, representing 35.12% of the
issued share capital of the Company.

This represents the entire holding of the Patersons Quarries Concert Party 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 shares in the Company. As a consequence of
the issue of these new shares the interest of the Patersons Quarries Concert
Party in the issued share capital of Palmaris was diluted from 35.13% to 34.16%.
  As a result it is able to acquire a maximum of 1,510,714 additional shares in
the Company to increase its holding to 54,776,686 or 35.13% of the Company's
fully 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 Patersons
Quarries to make a general offer for Palmaris 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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