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:

Low & Bonar PLC

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): Notification required due to internal transfers between funds under management

x

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

Prudential plc group of companies

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

See attached schedule

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

17 February 2009

6. Date on which issuer notified:

18 February 2009

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

See item 13

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

GB0005363014

15,153,744

15,153,744

15,153,744

15,153,744

9.80%

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

N/A

N/A

N/A

N/A

N/A

Total (A+B)

Number of voting rights

Percentage of voting rights

15,153,744

9.80%

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

Prudential plc (parent Company) M&G Group Limited (wholly owned subsidiary of Prudential plc) M&G Limited (wholly owned subsidiary of M&G Group Limited) M&G Investment Management Limited (wholly owned subsidiary of M&G Limited)

Proxy Voting:

10. Name of 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:

As per 5.1.2, the non-exempt holdings for Prudential plc has dropped below 3% triggering this notification

14 Contact name:

Dipesh Varsani

M&G Investment Management Limited

15. Contact telephone number:

020 7548 3261