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

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

X

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

N/A

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

28 February 2011

6. Date on which issuer notified:

1 March 2011

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

Holding has gone above 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

Number ofVoting Rights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B1VNSX38

17,535,655

17,535,655

N/A

N/A

30,242,941

N/A

8.29%

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 beacquired if the instrument 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

6,499,034

Nominal

Delta

1.78%

1.78%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

36,741,975

10.07%

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

BlackRock Investment Management (UK) Limited - 36,741,975 (10.07%)

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

Andrew Manchester,

BlackRock IntrnationalThreshold Reporting Team;

020 7743 5773;

Provided the information

14. Contact name:

Philip Hudson

Company Secretary

15. Contact telephone number:

01757 612917