GON Galleon Hldgs

RNS Number:9466C
Galleon Holdings PLC
29 August 2007


TR-1 NOTIFICATION OF MAJOR INTERESTS IN SHARES

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

GALLEON HOLDINGS Plc

(2) Reason for the notification (please state Yes/No):

An acquisition or disposal of voting rights (Yes)

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): -

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

Cheyne Capital Management (UK) LLP

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

Cheyne Global Emerging Markets Fund L.P.

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

28 August 2007

(6) Date on which issuer notified:

29 August 2007

(7) Threshold that is crossed or reached:

11%

(8) Notified details:

A: Voting rights attached to shares

Class/type   Situation previous to the Resulting situation after the triggering
of shares    Triggering transaction    transaction
if possible
using the    Number of  Number of   Number of  Number of Voting  % of voting
ISIN code    Shares     Voting      Shares     Rights            rights
                        Rights
Common Stock                                   Direct   Indirect Direct Indirect
GB00B02MFY27 7,094,231  7,094,231   7,144,231  7,144,231   -     11.02%    0%


B: Financial instruments

Resulting situation after the triggering transaction

Type of     Expiration Exercise/    Number of voting rights that may    % of
Financial   Date       Conversion   be acquired if the instrument is    voting
Instrument             Period/Date  exercised/converted                 rights

Common       -             -              -                             11.02%
Stock

Total (A+B)

Number of voting rights                              % of voting rights
      7,144,231                                             11.02%


(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 the proxy holder:

N/A

(11) Number of voting rights proxy holder will cease/acquire to hold:

N/A

(12) Date on which proxy holder will cease/acquire to holding voting rights:

N/A

(13) Additional information:

N/A

(14) Contact name:

Simon James

(15) Contact number:

020-7031-7560




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