Holding(s) in Company

For filings with the FSA include the annex

For filings with issuer exclude the annex

TR-1: Notifications of Major Interests in Shares

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

Telford Homes plc

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

No

An event changing the breakdown of voting rights

No

Other (please specify):______________

No

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

MAM Funds Plc

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

See section 9 below

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

02/09/2010

6. Date on which issuer notified:

03/09/2010

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

Was 5.32%, Now 4.92%

8: Notified Details

A: Voting rights attached to shares viii, ix

Class/type of shares

If possible use 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

Percentage of voting rights

Direct

Indirect

Direct

Indirect

GB0031022154

2,650,000

2,650,000

2,450,000

n/a

2,450,000

n/a

4.92%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/ conversion period/date xiv

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

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 financial instrument

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

2,450,000

4.92%

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

Segregated Account

Bank of New York Nominees Ltd a/c 156547

320,000

CF Midas Growth Fund

Bank of New York Nominees Ltd a/c 392512

1,650,000

Segregated Account

Bank of New York Nominees Ltd a/c 318901

230,000

Segregated Account

Bank of New York Nominees Ltd a/c 111359

250,000

Proxy Voting:

10. Name of proxy holder:

n/a

11. Number of voting rights proxy holder will cease to hold:

n/a

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

n/a

13. Additional information:

Midas Capital Partners Ltd and Miton Asset Management Ltd are both subsidiaries of MAM Funds Plc

14 Contact name:

John Bradley

15. Contact telephone name:

0151 906 2462