Holding(s) in Company

For filings with the FSA include the annex

For filings with issuer exclude the annex 

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:

Environmental Recycling Technologies plc

GB0030949472

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

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): Increase in number of shares in issue

x

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

Allianz SE

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

Allianz Insurance plc

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

29 August 2008

6. Date on which issuer notified:

9 December 2008

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

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

GB0030949472

13,500,000

13,500,000

13,500,000

13,500,000

4.71

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

13,500,000

4.71

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

Allianz SE is the ultimate holding company of Allianz Insurance plc. 

Allianz Insurance Plc is in turn held by Allianz UK Limited, which is a 66.7% owned subsidiary of Allianz Europe Limited ("Allianz Europe"). The other 33.3% of shares in Allianz UK Limited are owned by Allianz Lebensversicherungs GmbH ("Jota"), which is itself an indirect subsidiary of Allianz SE. Allianz Europe is an 85% owned subsidiary of AZ-Argos 10 Vermogensverwaltungsgesellschaft GmbH which in its turn is a wholly owned subsidiary of Allianz SE. Allianz SE is also the owner of the other 15% of Allianz Europe.

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:

This disclosure is based on the change in total voting rights in issue, announced by Environmental Recycling Technologies plc on 29 August 2008. 

14 Contact name:

Dresdner Kleinwort Media Relations Team

15. Contact telephone name:

 020 7623 8000