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: ii

Drax Group plc

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

An acquisition or disposal of voting rights

X

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: iii

BlackRock, Inc.

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

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

21 April 2011

6. Date on which issuer notified:

27 April 2011

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

Holding has gone below 10%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Numberof Shares

Numberof VotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct

Indirect xii

Direct

Indirect

GB00B1VNSX38

31,258,417

31,258,417

N/A

N/A

30,870,078

N/A

8.46%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

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

% of votingrights

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

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

CFD

5,516,236

Nominal

Delta

1.51%

1.51%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

36,386,314

9.97%

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

BlackRock Investment Management (UK) Limited - 36,386,314 (9.97%)

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:

BlackRock International Threshold Reporting Team provided this information

14. Contact name:

Phil White, Deputy Company Secretary

15. Contact telephone number:

01757 612167