TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Afren plc

2. Reason for notification 

An acquisition or disposal of voting rights

NO

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached 

NO

An event changing the breakdown of voting rights

NO

Other (please specify): Appointment of shareholders' proxy at the Annual General Meeting on 12 June 2008 ("AGM")

YES

3. Full name of person(s) subject to notification obligation:

Dr Rilwanu Lukman (Chairman and proxy holder)

4. Full name of shareholder(s) (if different from 3):

Numerous

5. Date of transaction (and date on which the threshold is crossed or reached if different):

12 June 2008

6. Date on which issuer notified:

12 June 2008

7. Threshold(s) that is/are crossed or reached:

35%

8: Notified Details:

A: Voting rights attached to shares

Class/type of shares

If possible use ISIN code

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Number of shares

Number of voting rights

Percentage of voting rights

Direct

Indirect

Direct

Indirect

Ordinary Shares

6,000,000

6,000,000

129,747,487

5,000,000

124,747,487

1.36%

33.89%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

N/A

N/A

N/A

N/A

N/A

Total (A+B)

Number of voting rights

Percentage of voting rights

129,747,487

35.25%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

N/A

Proxy Voting:

10. Name of proxy holder:

Dr Rilwanu Lukman (Chairman)

11. Number of voting rights proxy holder will cease to hold:

123,747,487

12. Date on which proxy holder will cease to hold voting rights:

12 June 2008

13. Additional information:

Following the AGM, 33.6% of the voting rights will return to shareholders who appointed Dr Rilwanu Lukman as their proxy

14 Contact name:

Shirin Johri, Company Secretary 

Afren plc

15. Contact telephone number:

020 7451 9700