Detectives from the Paramilitary Crime Task Force have conducted a search operation on Monday night, 3rd April.
Properties were searched in the Carnlough and west Belfast areas.
Suspected cocaine and cannabis with an estimated value of £300,000 were seized along with mixing agents, cash and designer watches.
A 41-year-old man and a 36-year-old woman have been arrested on suspicion of drug and money laundering offences and remain in custody.
Detective Inspector Maguire said:
“This operation has resulted in the seizure of a significant amount of harmful Class A drugs which otherwise would have been distributed into the community. The supply of cocaine and cannabis poses a real risk to the public’s health.
"The Paramilitary Crime Task Force remains committed to protecting communities and dismantling the supply of illegal drugs.
“I would encourage anyone with information, or concerns, to contact us on 101."
You can also submit a report online using the non-emergency reporting form via
http://www.psni.police.uk/makeareport/ or through Crimestoppers anonymously on 0800 555 111 or online at http://crimestoppers-uk.org/