Holding(s) in Company

For filings with the FCA include the annex For filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer F&C UK Real Estateof existing shares to which voting rights are Investments Ltdattached:ii 2. Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights x An acquisition or disposal of qualifying financial instruments which may resultin theacquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect toqualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to the Schroders plcnotification obligation:iii 4. Full name of shareholder(s) (if differentfrom 3.):iv 5. Date of the transaction and date onwhich the threshold is crossed or 25.11.14reached:v 6. Date on which issuer notified: 26.11.14 7. Threshold(s) that is/are crossed or Above 5%reached:vi, vii 8. Notified details: A: Voting rights attached to sharesviii, ix Class/type of Situation previous Resulting situation after the triggeringshares to the triggering transaction transaction if possible Number Number Number Number of voting % of votingusing of of of shares rights rightsxthe ISIN CODE Shares Voting Rights Direct Directxi Indirectxii Direct Indirect Ordinary GB00B012T521 Below 5% Below 5% 12,210,178 N/A 12,210,178 N/A 5.289% B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of financial Expiration Exercise/ Number of voting % of votinginstrument datexiii Conversion Periodxiv rights that may be rights acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying FinancialInstrumentsxv, xvi Resulting situation after the triggering transaction Type of Exercise Expiration Exercise/ Number of voting rights % of votingfinancial price datexvii Conversion instrument refers to rightsxix, xxinstrument periodxviii Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 12,210,178 5.289% 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable:xxi Schroder Investment Management Limited 12,158,598 5.267% Schroder & Co. Limited 51,580 0.022% 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: The shares referred to in section 9 are held in portfolios managed by13. those firms on a discretionary basis for clients under investmentAdditional management agreements. This disclosure has been calculated based on issueinformation: share capital amount 230,855,539 14. Contact Name: Shaheen Hussain 15. Contact Telephone Number: +44 207 658 6000