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

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:

Harwood Capital LLP (as investment adviser/manager) and North Atlantic Smaller Companies Investment Trust plc

4. Full name of shareholder(s)

(if different from 3.):

1. ORYX INTERNATIONAL GROWTH FUND LIMITED

2. HARWOOD CAPITAL LLP

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

15 APRIL 2016

6. Date on which issuer notified:

20 APRIL 2016

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

reached:

Total Holding still at 29.94%

Holder 1 now 27.67%

Holder 2 now 2.27%

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

HOLDER 1

HOLDER 2

3,327,575

268,736

3,327,575

 268,736

3,277,575

 268,736

 3,277,575

268,736

27.67%

 2.27%

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

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

3,546,311

29.94%

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

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

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

13. Additional information:

On 15th April 2016 Oryx International Growth Fund Ltd sold 50,000 shares, which following the reduction in the number of shares in issue to 11,845,879 on 18 April 2016, maintained Harwood's overall holding at 29.94%

14. Contact name:

Jane Muir

15. Contact telephone number:

020 8819 6486