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:

INNOVATION 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

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 the notification obligation:

GARTMORE INVESTMENT LIMITED

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

GARTMORE INVESTMENT LIMITED

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

28TH OCTOBER 2010

6. Date on which issuer notified:

29TH OCTOBER 2010

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

23%

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

205,859,984

205,859,984

197,833,102

197,833,102

21.149%

GB0006872096

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

CFD

N/A

N/A

N/A

18,193,025

Nominal

Delta

1.945%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

216,026,127

23.094%

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:

All figures are based on the Company's issued share capital of 935,427,013 as provided by Exshare.

E mail contact [email protected]

14. Contact name:

RDU

15. Contact telephone number:

0207 782 2224