Evolution Plc. Withdrawal of Letter of Intent

Letter of Intent: Offer by Investec Plc for Evolution Group plc

On 09 September 2011, Schroder Investment Management Limited provided a Letter of Intent regarding our intentions in relation to 9,698,872 shares.

In accordance with The City Code on Takeovers and Mergers, Rule 2.11 (d)(i), we advise that, with effect from 03 November 2011, we withdraw the Letter of Intent and no longer undertake to accept or procure the acceptance of the Offer, in relation to those shares.

Chris Melrose

Manager, AML & Disclosure

Schroders Group Compliance

Tel: +44(0)207 658 4331

Fax: +44(0)207 658 3512

e-mail: [email protected]