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

Card Factory 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

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):

No

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

Kames Capital Plc

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

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

30/07/2015

6. Date on which issuer notified:

03/08/2015

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

3%

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

GB00BLY2F708

10,182,774

10,182,774

6,860,292

6,860,292

3,385,482

2.01%

0.99%

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

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

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

10,245,774

3.00%

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

Kames Capital:-

Kames Capital Plc

Kames Capital ICVC

Kames Capital VCIC

Proxy Voting:

10. Name of the proxy holder:

Kames Capital Plc

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

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

13. Additional information:

14. Contact name:

Trade Operations Manager

15. Contact telephone number:

0131 549 2206

Note: Annex should only be submitted to the FCA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Kames Capital Plc

Contact address

(registered office for legal entities)

Kames House

3 Lochside Crescent

Edinburgh

EH12 9SA

Phone number and email

0870 60 90 101

Other useful information

(at least legal representative for legal persons)

Alison Talbot

Company Secretary

0131 549 3205

B: Identity of the notifier, if applicable

Full name

Trade Operations Manager

Contact address

Kames House

3 Lochside Crescent

Edinburgh

EH12 9SA

Phone number and email

0131 549 2206

[email protected]

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

For notes on how to complete form TR-1 please see the FCA website.