Xcite Energy Limited ("Xcite Energy" or the "Company") Holdings in Company -- Fidelity Investment

ABERDEENSHIRE, UK--(Marketwire - March 26, 2010) - This Announcement Is Not For Release, Publication or Distribution In Or Into The United States

Xcite Energy (TSX-V: XEL) (LSE: XEL) (AIM: XEL) has received formal notification that Fidelity Investment Services (UK) holds 12,000,000 ordinary shares in the Company, representing 8.99% of the issued and outstanding share capital.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:

ENQUIRIES:
Xcite Energy Limited
+44 (0) 1330 826 740
Richard Smith
Chief Executive Officer
Rupert Cole
Chief Financial Officer

Arbuthnot Securities Limited
+44 (0)20 7012 2000
Andrew Fairclough
Ed Burbidge

Strand Hanson Limited
+44 (0) 20 7409 3494
James Harris
Rory Murphy