Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

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

Dexion Equity Alternative Limited

2. Reason for the notification (yes/no):

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) - Initial Disclosure

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

HSBC Holdings Plc

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

HSBC Global Asset Management (International) Limited

HSBC Global Asset Management (UK) Limited

HSBC Investment Management

Sinopia Asset Management (UK) Limited

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

9th October 2008

6. Date on which issuer notified:

10th October 2008 

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

9%

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

Indirect

Direct

Indirect

GB0034312321

10,724,586

10,724,586

NA

NA

10,579,256

NA

9.90%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration Date

Exercise/Conversion Period/ Date

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

10,579,256

9.90%

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

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:

None

14. Contact name:

Baljeet Gill

15. Contact telephone number:

020 7991 6555