Holding(s) in Company

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

Kenmore European Industrial Fund Limited Ord NPV

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 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):____Disclosure for purposes of transparency_______

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

The Royal Bank of Scotland Group Plc

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

Adam & Co (Nominees) Ltd A/C AIM. Adam & Co International Nominees Ltd

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

20/3/2009

6. Date on which issuer notified:

23/3/2009

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

5%

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 viii

Number of shares 

Number of voting rights ix

% of voting rights

Direct

Direct x

Indirect xi

Direct

Indirect

Ordinary NPV GB00B1CH3174

8,931,065

8,931,065

0

0

6,992,400

4.99%

B: Financial Instruments

Resulting situation after the triggering transaction xii

Type of financial instrument 

Expiration date xiii

Exercise/ Conversion Period/ Date xiv 

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

% of voting rights

Total (A+B)

Number of voting rights

% of voting rights

6,992,400

4.99%

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

The Royal Bank of Scotland Group Plc (4.99%)

The Royal Bank of Scotland Plc (4.99%)

Adam & Co Group PLC (4.99%)

Adam & Co Investment Management Limited (4.88%)

Adam & Co International Limited (0.11%)

Proxy Voting:

10. Name of the 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 Notification is based upon the Voting Rights figure of 140,000,000 obtained from FT Interactive Data

14. Contact name:

Richard Hopkins

15. Contact telephone number:

0207 714 4459