Holding(s) in Company TR1

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

Ram Active Media

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

Yes

Other (please specify):

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

Ruffer LLP (for its discretionary clients)

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

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

03 June 2013

6. Date on which issuer notified:

05 June 2013

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

18% to 14%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B92FC877

11,088,750

11,088,750

11,088,750

11,088,750

-

14%

-

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ 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

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

11,088,750

14%

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

Proxy Voting:

10. Name of the proxy holder:

N/A

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

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

13. Additional information:

Ruffer LLP controls the voting rights over 11,088,750 shares of RAM Active, which are held by Ruffer's discretionary clients. These shares now represent 14% of RAM's voting rights.

This change from 18% to 14% is due to the RNS announcement by RAM on 03 June 2013 in which it stated that it had erroneously misstated its total number of shares in issue.

The correct total of shares in issue is now stated as 75,695,390 and this is the figure that we are using for calculations going forward.

14. Contact name:

15. Contact telephone number: