RNS Number:5465F
Caspian Holdings plc
03 July 2006

3 July 2006

(AIM:CSH)

                              Caspian Holdings Plc
                          ("Caspian" or "the Company")

         Appointment of Operations Manager and Chief Financial Officer

The Board of Caspian Holdings Plc is pleased to announce the immediate
appointment of Essien Umoren as Operations Manager and Dom Del Borrello as Chief
Financial Officer to the Company.

Essien Umoren, aged 37, has a Bachelor Degree in Physics and 14 years experience
working in the Oil and Gas industry including 3 years with Shell and more
recently 11 years with Schlumberger. At Schlumberger Essien worked extensively
in Kazakhstan and the Caspian Region as well as in Nigeria and Texas as a senior
petrophysist leading the evaluation of both large and smaller oil fields and
advising major oil companies on how to increase oil production.

Essien Umoren is very experienced in integrated hydrocarbon formation evaluation
having worked in the Caspian Region for 4 years as Petrophysics Domain Champion
developing and supporting the Schlumberger formation evaluation business in
Kazakhstan, Azerbaijan, Turkmenistan and Uzbekistan.

Dom Del Borrello, aged 40, has extensive experience in finance in the resources
industry. Prior to joining Caspian, Dom was Group Manager Treasury and Risk for
global Titanium minerals and Zircon producer Iluka Resources, the worlds largest
mineral sands company. With over 15 years experience in corporate finance and
treasury and having held senior positions with a number of public resource
companies including Anaconda Nickel and GRD Minproc, Dom brings an extensive
financing track record to the Company. He has significant experience in project
finance, debt and equity raising, and in structured transactions completing over
20 major transactions in the last 10 years.

Commenting on the appointment, Executive Chairman Michael Masterman said "We are
delighted to have Essien and Dom join the management team. Their appointments
immediately deepen both the operational and financial skill base of the Company
and strengthen our capacity to manage and rapidly grow our business. Both
executives have exceptional experience and track records in their respective
fields and we welcome them to the company".

As part of the appointments, Mr Umoren will be issued 500,000 options and Mr Del
Borrello will be issued 200,000 options. The options expire on 4 November 2007
and have an exercise price of 27p which represents a 67% premium to the
Company's closing share price on Friday 30 June 2006. Non Executive Technical
Director Dr Andrew Robinson, who joined the Board of Caspian Holdings Plc in May
2006, will be issued 500,000 options expiring 4 November 2007 with an exercise
price of 27p.

Enquiries:
Caspian Holdings Plc    Hoodless Brennan         Parkgreen Communications
Michael Masterman       Luke Cairns              Justine Howarth / Ana Ribeiro
T: +44 (0) 7791288381   T: +44 (0) 20 7538 1166  T: +44 (0) 20 7493 3713
www.caspianoil.co.uk
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                      This information is provided by RNS
            The company news service from the London Stock Exchange

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