Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

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

Environmental Recycling Technologies plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

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):

Issue of 10,000,000 new shares admitted to trading on the AIM market on 8 February 2010

ü

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

Allianz SE

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

Allianz Insurance plc

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

8 February 2010

6. Date on which issuer notified:

11 February 2010

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

4%

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

Ordinary

13,500,000

13,500,000

13,500,000

3.90

GB0030949472

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

None

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

None

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

13,500,000

3.90%

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

Allianz SE is the ultimate holding company of Allianz Europe Ltd, which is the major holding company of Allianz (UK) Limited, which is the holding company of Allianz Holdings Plc, which is the major holding company of Allianz Insurance Plc.

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:

14. Contact name:

Allianz SE Group Compliance

15. Contact telephone number:

+49 89 38 0017879