Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

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

Smiths News 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 thenotification obligation: iii

Silchester International Investors LLP

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

Silchester International Investors International Value Equity Taxable Trust

Silchester International Investors International Value Equity Trust

Silchester International Investors International Value Equity Group Trust

Silchester International Investors Tobacco Free International Value Equity Trust

The Calleva Trust

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

22nd October 2012

6. Date on which issuer notified:

23rd October 2012

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

19%

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

GB00B17WCR61

36,438,995

34,872,438

18.98%

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

N/A

N/A

N/A

N/A

N/A

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

N/A

N/A

N/A

N/A

N/A

Nominal

Delta

N/A

N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

34,872,438

18.98%

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

N/A

Proxy Voting:

10. Name of the proxy holder:

Silchester International Investors LLP

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

N/A

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

N/A

13. Additional information:

Silchester International Investors LLP ("Silchester") acts as investment manager for the clients detailed in Question 4 above (our "Clients"). In acting for our Clients, Silchester are given full discretion over their investments and are empowered to vote on their behalf. However, we do not act as our Clients' custodian and therefore shares are not held in our name but in the name of each Client's custodian bank.

The decrease in Silchester's holdings was due to a series of transactions over a series of different trading days. Details of the number of shares held before the change (shown in Section A 'Situation previous to the Triggering transaction' above), represent the shares held by Silchester's clients as of the date of our last Notice of Substantial Shareholder's Interest and not as of the last trading day before which this disclosure level was triggered.

Notification is provided based on the total voting rights figure of 183,723,729.

14. Contact name:

Anish Kumar. Compliance & Risk Management

15. Contact telephone number:

0207 518 7124

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Silchester International Investors LLP

Contact address

(registered office for legal entities)

Time & Life Building

1 Bruton Street, 5th Floor

London W1J 6TL

Phone number & email

0207 518 7124, [email protected]

Other useful information

(at least legal representative for legal persons)

Attn: Anish Kumar, Compliance & Risk Management

B: Identity of the notifier, if applicable

Full name

Anish Kumar, Compliance & Risk Management

Contact address

Time & Life Building

1 Bruton Street, 5th Floor

London W1J 6TL

Phone number & email

0207 518 7124, [email protected]

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

For notes on how to complete form TR-1 please see the FSA website.