Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

CLEAN AIR POWER LIMITED

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

YES

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

YES

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

NO

An event changing the breakdown of voting rights

NO

Other (please specify):

N/A

3. Full name of person(s) subject to the notification obligation:

CSFB STRATEGIC PARTNERS HOLDINGS II, L.P.

4. Full name of shareholder(s)  (if different from 3.):

-

5. Date of the transaction and date on which the threshold is crossed or reached:

6 October 2010

6. Date on which issuer notified:

6 October 2010

7. Threshold(s) that is/are crossed or reached:

30%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

Common Shares of US$0.001 each

18,304,058

18,304,058

21,704,058

21,704,058

-

29.34%

-

ISIN: BMG2287M1047

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ Conversion Period

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights (on an "as diluted" basis)

Warrant over common shares

13 April 2011

14 April 2008 to

13 April 2011

1,312,467

1.74%

Warrant over common shares

3 July 2011

4 July 2008 to

3 July 2011

1,093,230

1.46%

Warrant over common shares

7 October 2011

8 October 2008 to

7 October 2011

1,562,500

2.07%

Warrant over common shares

14 December 2011

15 December 2008

to

14 December 2011

1,873,380

2.47%

Warrant over common shares

5 February 2012

6 February 2009 to

5 February 2012

890,980

1.19%

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date

Exercise/ Conversion period

Number of voting rights instrument refers to

% of voting rights

-

-

-

-

-

Nominal

Delta

-

-

Total (A+B+C)

Total number of potential voting rights

Percentage of total voting rights (on an "as diluted" basis)

28,436,615

35.23%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi

N/A

Proxy Voting:

10. Name of the proxy holder:

-

11. Number of voting rights proxy holder will cease to hold:

-

12. Date on which proxy holder will cease to hold voting rights:

-

13. Additional information:

-

14. Contact name:

David J. Corey

15. Contact telephone number:

001.415.249.8918