Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

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

Cosalt Plc

(Sedol: 0226505)

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 the notification obligation: iii

Cazenove UK Dynamic Absolute Return Fund Limited

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

N/A

5. Date of the transaction and date on which the threshold is crossed or reached: v

14/04/10

6. Date on which issuer notified:

15/04/10

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

5%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of shares

if possible using the 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

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB0002265055

25,075,000

25,075,000

18,000,000

0

18,000,000

0

4.45%

Ordinary

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/ Conversion Period xiv

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

N/A

N/A

N/A

N/A

N/A

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

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date xvii

Exercise/ Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

N/A

N/A

N/A

N/A

N/A

Nominal

Delta

N/A

N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

18,000,000

4.45%

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

N/A

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

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

N/A

13. Additional information:

N/A

14. Contact name:

N/A

15. Contact telephone number:

N/A

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)

Cazenove UK Dynamic Absolute Return Fund Limited

Contact address

(registered office for legal entities)

12 Moorgate, London, EC2R 6DA

Phone number & email

0207 155 5905

Other useful information

(at least legal representative for legal persons)

Anthony O'Malley

B: Identity of the notifier, if applicable

Full name

Cazenove Capital Management Limited

Contact address

12 Moorgate, London, EC2R 6DA

Phone number & email

0207 155 5905

Other useful information

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

Investment Manager

C: Additional information

N/A

For notes on how to complete form TR-1 please see the FSA website.