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:

Innovation Group Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

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):

Corporate Action

 X

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

 GAM London Limited

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:

 22/10/09

6. Date on which issuer notified:

 23/12/09

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

 7%

8. Notified details:

A: Voting rights attached to shares

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

Direct

Direct

Indirect

Direct

Indirect

 Ord GBP0.02

 52,983,946

 52,983,946

 57,521,467

 57,521,467

 6.224%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ Conversion Period

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

% of voting rights

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

Resulting situation after the triggering transaction

Type of financial instrument

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

 57,521,467

 6.224%

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

GAM London Limited manages the funds, holdings were all under 3% but cumulatively the holdings went from 7.419% to 6.224% SJPI GAM Sterling Managed Fund SJPI Dollar Managed Fund JRA/GAM Managed Life JRA/GAM Managed Pension St. James' Place Recovery Unit Trust

Proxy Voting:

10. Name of the proxy holder:

 Institutional Shareholder Services

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:

 Please note we have taken a Shares-in-Issue figure of 924,187,156 after having spoken to the Company Secretary.

14. Contact name:

15. Contact telephone number: