The items were found at a house in north Down
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Three people are still being held after a bomb and bullets were found at the house of a murdered loyalist in north Down.
The items were found at the property in Crawfordsburn, which was owned by Jim Johnston, a member of the outlawed paramilitary group, the Red Hand Commando.
Mr Johnston was shot dead outside the house on the Ballyrobert Road on 8 May.
Police say an explosive device and 250 bullets were discovered after investigators from the Assets Recovery Agency carried out a search on Tuesday.
Two men and a woman were arrested and are still in police custody.
The Assets Recovery Agency is headed by former PSNI Assistant Chief Constable Alan McQuillan.
It came into being earlier this year as part of the government's offensive against paramilitary groups who make money out of fuel and cigarette smuggling, counterfeiting, robbery and drug dealing.
The Red Hand Commando is part of the loyalist paramilitary Ulster Volunteer Force.