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:

Drax Group plc

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

X

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

An event changing the breakdown of voting rights

Other (please specify): 

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

AXA S.A, 25 Avenue Matignon, 75008 Paris and its group of companies

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

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

08/06/2009

6. Date on which issuer notified:

09/06/2009

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

Passed below 11% 

8. Notified Details

A:  Voting rights attached to shares

Class/type of shares

If possible use 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

Percentage of voting rights

Direct

Indirect

Direct

Indirect

GB00B1VNSX38

38,662,495

38,662,495

1,607,000

1,607,000

34,718,648

0.47

10.23

B:  Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised / converted)

Percentage of voting rights

Total (A+B)

Number of voting rights

Percentage of voting rights

36,325,648

10.70

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

Proxy Voting:

10. Name of 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:

14. Contact name:

Phil White - Assistant Company Secretary

15. Contact telephone name:

+44 (0) 1757 618381