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:

 Journey Group Plc 

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

An acquisition or disposal of voting rights

Yes  

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

 X

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:

North Atlantic Value LLP (as investment manager/advisor)

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

 1). North Atlantic Value LLP (as investment manager/adviser to fund management clients 

2). Oryx International Growth Fund Limited 

3). North Atlantic Smaller Companies Investment Trust Plc 

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

 19 November 2009

6. Date on which issuer notified:

 7 December 2009

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

 Holding increased through 26%

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

 Ordinary Shares 

Sedol:

0942209

Holder 1

6,718,413

6,718,413

6,718,414

6,718,414

2.31%

Holder 2

53,314,341

53,314,341

54,825,188

54,825,188

18.87%

Holder 3

14,666,667

14,666,667

14,666,667

14,666,667

5.05%

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

 76,210,269

26.23%

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

 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:

 Carl Fry

15. Contact telephone number:

+44 (0) 20 8606 2000