Holding(s) in Company

SALTUS EUROPEAN DEBT STRATEGIES LIMITED

(Registered in Guernsey - Number 46912)

Registered Office:

 2ND FLOOR, REGENCY COURT, GLATEGNY ESPLANADE, ST. PETER PORT,

GUERNSEY, GY1 3NQ.

___________________________

TELEPHONE: + 44 1481 720321

FACSIMILE: + 44 1481 716117

e-mail: [email protected]

TR-1: Notifications of Major Interests in Shares

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

Saltus European Debt Strategies Limited

2. Reason for notification 

An acquisition or disposal of voting rights

Yes

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

An event changing the breakdown of voting rights

Other (please specify):______________

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

Barclays PLC

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

Gerrard Investment Management Ltd

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

29 January 2009

6. Date on which issuer notified:

2 February 2009

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

4% to 3%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

If possible use 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

Percentage of voting rights

Direct

Indirect

Direct

Indirect

GG00B1WTM617

1,683,603

1,603,603

1,668,603

0

1,668,603

0.00

3.97

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

Total (A+B)

Number of voting rights

Percentage of voting rights

1,668,603

3.97

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

Gerrard Investment Management Ltd

Proxy Voting:

10. Name of 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:

Geoff Smith

15. Contact telephone number:

020 7116 2913