GON Galleon Hldgs

RNS Number:8929J
Galleon Holdings PLC
13 December 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):

11 December 2007

(6) Date on which issuer notified:

13 December 2007

(7) Threshold that is crossed or reached:

12%

(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  Number of  Number of     Number of  Number of Voting    % of voting
using the    Shares     Voting Rights Shares     Rights              rights
ISIN code
Common Stock                                     Direct Indirect Direct Indirect

GB00B02MFY27 11,557,507  11,557,507  12,057,508 12,057,508   -   12.40%    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 is the instrument is  voting
Instrument             Period / Date  exercised / converted             rights

Common       -               -                    -                     12.40%
Stock

Total (A+B)

Number of voting rights                      % of voting rights

    12,057,508                                    12.40%

(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



                      This information is provided by RNS
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