Holding(s) in Company

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached:

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 thenotification 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 onwhich the threshold is crossed orreached:

12 May 2011

6. Date on which issuer notified:

13 May 2011

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

28%

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

Direct

Direct

Indirect

Direct

Indirect

Common Shares of US$0.001 each

21,704,058

21,704,058

25,841,989

25,841,989

-

27.29%

-

ISIN: BMG2287M1047

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/Conversion Period

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

% of votingrights (on a fully diluted basis)

Warrant over common shares

3 July 2011

4 July 2008 to

3 July 2011

1,093,230

1.09%

Warrant over common shares

7 October 2011

8 October 2008 to

7 October 2011

1,562,500

1.55%

Warrant over common shares

14 December 2011

15 December 2008

to

14 December 2011

1,873,380

1.86%

Warrant over common shares

5 February 2012

6 February 2009 to

5 February 2012

890,980

0.89%

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

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date

Exercise/Conversion period

Number of voting rights instrument refers to

% of voting rights

-

-

-

-

-

Nominal

Delta

-

-

Total (A+B+C)

Number of voting rights

Percentage of voting rights

31,262,079

31.09%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial 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 ceaseto hold:

-

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

-

13. Additional information:

-

14. Contact name:

David J. Corey

15. Contact telephone number:

001.415.249.8918