Director Holdings Disclosure

Bramdean Alternatives Limited

21 May 2010

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL

RESPONSIBILITY OR CONNECTED PERSONS

1) Name of company

Bramdean Alternatives Limited

2) State whether notification is in respect of a transaction notified in accordance with DR 3.1.4R(1)(a), DR 3.1.4R(1)(c) or DR 3.1.4R(1)(d)

DR 3.1.4R(1)(a)

3) Name of director

Jonathan Carr

4) State whether notification relates to a person(s) connected with a person discharging managerial responsibilities/director named in 3 above and identify the connected person(s)

N/A

5) Indicate whether notification is in respect of a holding of the person named in 3 or 4 above or in respect of a non-beneficial interest

As in 3

6) Class of security

Sterling ordinary shares

7) Name of the registered shareholder(s) and, if more than one holder, the number of shares held by each of them (if notified)

As in 3

8) State the nature of the transaction.

Acquisition

9) Number of shares/amount of stock acquired

5,000 Sterling ordinary shares

10) Percentage of issued class acquired

0.005%

11) Number of shares/amount of stock disposed

-

12) Percentage of issued class disposed

-

13) Price per share

58.04p

14) Date of transaction

21 May 2010

15) Total holding and percentage holding of issued class following this notification

5,000 Sterling ordinary shares 0.005%

16) Date company informed

21 May 2010

17) Other Information

At the Company's extraordinary general meeting to be held in Guernsey on 3 June 2010, Jonathan Carr has confirmed his intention to vote his beneficial interests in 5,000 Sterling ordinary shares, representing approximately 0.005% of the Company's total voting rights, in favour of resolutions 1, 2, 3, and 4 to be put to shareholders.

Name of contact and telephone number for queries

Robin Amer, +44 (0) 1481 744130

Name and signature of authorised company official responsible for making this

notification

Robin Amer

Date of Notification - 21 May 2010