Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

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

MANAGEMENT CONSULTING GROUP PLC

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 result in the acquisition of shares already issued to which voting rights are attached

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

An event changing the breakdown of voting rights

Other (please specify):

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

BLUEGEM L.P.

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

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

1 December 2011

6. Date on which issuer notified:

1 December 2011

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

25.5%

8. Notified details:

A: Voting rights attached to shares viii, ix

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

ORDINARY

75,685,000

75,685,000

124,629,895

NIL

124,629,895

NIL

25.5%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

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

% of votingrights

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 xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

124,629,895

25.5%

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

BLUEGEM L.P., A FUND MANAGED BY BLUEGEM CAPITAL PARTNERS LLP, IS THE OWNER OF THE ENTIRE ISSUED SHARE CAPITAL OF BLUEGEM BETA LIMITED.

BLUEGEM BETA LIMITED IS THE REGISTERED HOLDER OF 75,865,000 SHARES IN THE CAPITAL OF THE ISSUER. BLUEGEM BETA LIMITED IS THE OWNER OF THE ENTIRE ISSUED SHARE CAPITAL OF SHCO 30 S.á.r.l.

THE WARRANTS TO SUBSCRIBE FOR 35,344,895 ORDINARY SHARES PREVIOUSLY NOTIFIED AS HELD BY BLUEGEM BETA LIMITED WERE TRANSFERRED BY BLUEGEM BETA LIMITED TO SHCO 30 S.á.r.l ON 28 NOVEMBER 2011, AND SUBSEQUENTLY EXERCISED ON 1 DECEMBER 2011. A FURTHER 13,600,000 SHARES WERE ACQUIRED BY SHCO 30 S.á.r.l ON 1 DECEMBER 2011.

BLUEGEM L.P. ACCORDINGLY HAS A NOTIFIABLE INTEREST IN RESPECT OF 124,629,895 ORDINARY SHARES IN THE ISSUER.

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:

The percentage given at 7 and 8C above is based on the total voting rights of the issuer as disclosed by the issuer on 30 November 2011, together with the 35,344,895 ordinary shares newly issued by the issuer on 1 December 2011.

14. Contact name:

SOPHIE GILCHRIEST

15. Contact telephone number:

020 7647 9716