Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

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

REDROW PLC

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

NO

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):

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

Global AEGON Asset Management Group

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:

26 November 2010

6. Date on which issuer notified:

29 November 2010

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

3%

8. Notified details:

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct Xi

Indirect Xii

Direct

Indirect

GB0007282386

ORD 10p

9,340,975

9,340,975

Below 3%

Below 3%

Below 3%

N/A

N/A

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/ConversionPeriod

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exerciseprice

Expirationdate

Exercise/Conversionperiod

Number of votingrights instrumentrefers to

% of voting rights

Contract for Difference

N/A

N/A

N/A

0

0.00%

1

Total (A+B+C)

Number of voting rights

Percentage of voting rights

Below 3%

Below 3%

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

Global AEGON Asset Management Group "AAM" -

AEGON Asset Management Holding BV

AEGON Asset Management UK Holdings Ltd

AEGON Asset Management UK plc

AEGON Investment Management UK Ltd

AEGON ICVC

Proxy Voting:

10. Name of the proxy holder:

Global AEGON Asset Management Group

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:

Graham Cope

Group Company Secretary

Redrow plc

15. Contact telephone number:

01244 520044

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Contact address

(registered office for legal entities)

Phone number & email

Other useful information

(at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

AEGON Asset Management UK plc

Contact address

AEGON House

3 Lochside Avenue

Edinburgh Park

Edinburgh

EH12 9SA

Tel: 0870 60 90 101

Phone number & email

Tel: 0131 549 3460

Email: [email protected]

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

David Elston

Company Secretary

Tel: 0131 549 3205