Holding(s) in Company

TR-1: Notifications of Major Interests in Shares

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

Ultra Electronics Holdings 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):

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

Ameriprise Financial, Inc. and its group

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

See additional information under 13

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

10 March 2010

6. Date on which issuer notified:

11 March 2010

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

Below the threshold of 5%

8. Notified details:

A: Voting rights attached to shares viii, ix

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 x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB0009123323

3,394,684

3,394,684

45,723

45,723

3,307,235

0.067%

4.835%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/ Conversion Period xiv

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date xvii

Exercise/ Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

CFD

34,885

Nominal

Delta

0.051%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

3,387,843

4.953%

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

Ameriprise Financial, Inc, which through intermediate holding companies controls the voting rights of Threadneedle Management Luxembourg S.A. and Threadneedle Asset Management Holdings Ltd, which itself controls the voting rights of Threadneedle Asset Management Ltd, Threadneedle International Ltd and Threadneedle Pensions Ltd.

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:

Registered Owner

The Bank of New York (Nominees) Ltd A/c 961111 4,523

Merrill Lynch Nominees A/c XTHRF21 15,908

Morgan Stanley Nominees Limited A/c 04F607602 977

Ameriprise Financial Inc A/c 91,058

The Bank of New York (Nominees) Litd A/c PTG 10972 1,371

Littledown Nominees Ltd A/c 02891 1,458,274

Littledown Nominees Ltd A/c 05577 74,500

Littledown Nominees Ltd A/c 05576 786,000

Littledown Nominees Ltd A/c 07197 41,200

Littledown Nominees Ltd A/c 10479 2,000

Morgan Stanley Nominees Limited A/c 36199142 18,000

State Street Bank & Trust Boston A/c GPEI 102,522

The Bank of New York (Nominees) Ltd A/c 960011 10,437

Littledown Nominees Ltd A/c 07203 36,200

Littledown Nominees Ltd A/c 21667 12,600

Littledown Nominees Ltd A/c 34789 67,800

The Bank of New York (Nominees) Ltd A/c PTG 1476 14,500

Littledown Nominees Ltd A/c 10488 193,000

Littledown Nominees Ltd A/c 10489 177,573

Littledown Nominees Ltd A/c 10490 192,000

Littledown Nominees Ltd A/c 30337 25,200

Littledown Nominees Ltd A/c 31348 62,200

14. Contact name:

David Garbett-Edwards

15. Contact telephone number:

01242 225039