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

National Express Group PLC

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

An acquisition or disposal of voting rights

No

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

No

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

No

An event changing the breakdown of voting rights

No

Other (please specify):

Appointment of proxy holders

Yes

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

Elliott International, L.P

Liverpool Ltd Partnership

Mark Nathan Levine

Albert Je-Hung Au

Vance Chapman

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

N/A

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

4th May 2012

6. Date on which issuer notified:

9th May 2012

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

21%

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 Shares

GB0006215205

0

0

110,575,630

21.60809%

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

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 financialinstrument

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

110,575,630

21.60809%

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

N/A

Proxy Voting:

10. Name of the proxy holder:

Mark Nathan Levine

Albert Je-Hung Au

Vance Chapman

11. Number of voting rights proxy holder will ceaseto hold:

110,575,630

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

10 May 2012

13. Additional information:

This disclosure is being made pursuant to DTR 5.2.1(h).

The terms of the proxies with respect to the aforementioned proxy holders may be extended if the Annual General Meeting of the issuer is postponed or adjourned.

14. Contact name:

Annette Scott - National Express Group PLC

15. Contact telephone number:

0121 460 8637