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:

J Sainsbury plc

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

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

X

An event changing the breakdown of voting rights

Other (please specify):

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

M1 Capital Limited

M1 Capital International Investments Limited

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

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

Total Return Swap (TRS) - 19 January 2012

Accumulator 7 Equity Derivative - 18 April 2012

Total Return Swap (TRS) - 13 June 2012

Accumulator 8 Equity Derivative and TRS - 5 April 2012

Accumulator 9 Equity Derivative and TRS - 4 May 2012

Date on which threshold crossed: 28 June 2012

6. Date on which issuer notified:

2 July 2012

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

4%

8. Notified details:

A: Voting rights attached to shares

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

Direct

Direct

Indirect

Direct

Indirect

Ordinary shares

45,599,916

45,599,916

45,599,916

45,599,916

2.418

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/ConversionPeriod

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exerciseprice

Expirationdate

Exercise/Conversionperiod

Number of votingrights instrumentrefers to

% of voting rights

Accumulator 7

Total Swap Return (TRS)

Accumulator 8 and TRS

Accumulator 9 and TRS

TRS

N/A

N/A

N/A

N/A

N/A

19 Jul 2012

24 Jan 2017

9 Oct 2013

6 Aug 2013

13 Jun 2013

N/A

N/A

N/A

N/A

N/A

745,794

25,250,426

995,500

1,861,920

1,067,000

Nominal

Delta

0.040

1.339

0.053

0.099

0.057

Total (A+B+C)

Number of voting rights

Percentage of voting rights

75,520,556

4.004

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

M1 Capital Limited owns 13,127,973 ordinary shares (13,127,973 voting rights, representing 0.696% of the total voting rights)

M1 Beta Capital Limited, a wholly owned subsidiary of M1 Capital Limited, owns 32,471,943 ordinary shares (32,471,943 voting rights, representing 1.721% of the total voting rights)

M1 Capital International Investments Limited, a member of the same group of companies as M1 Capital Limited, is the counterparty to the Accumulator Equity Derivatives and to the Total Return Swaps

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:

14. Contact name:

Adam Wilson Katsibas

15. Contact telephone number:

 +44 0207 695 7991