Notification of major interest in shares

For filings with the FCA include the annex

For filings with issuer exclude the annex

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:

ESCHER GROUP HOLDINGS

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

An acquisition or disposal of voting rights

An acquisition or disposal of 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): Ignis Investment Services have concluded a joint venture partnership with Cartesian Capital Partners Ltd and therefore have a lesser holding in Escher Group__________

X

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

Ignis Investment Services Limited

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

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

26/07/2013

6. Date on which issuer notified:

30/07/2013

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

3%

8.Notified details: Nominee holdings

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

Number of Voting Rights viii

Number of shares

Number of voting rights

% of voting rights

Direct

Indirect

Direct

Indirect

IE00B6SKRB38

542,506

327,967

1.76%

B: Financial Instruments

Resulting situation after the triggering transaction xii

Type of financial instrument

Expiration date

Exercise/ Conversion Period/ Date

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

% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration Date

Exercise/ Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

327,967.00

1.76%

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

Nominee:

HSBC (327,967.00, 1.76%)

Phoenix Group Holdings

Impala Holdings Limited

Ignis Asset management Ltd

Ignis Investment Services Ltd (indirect)

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:

Percentage calculation based on Issued Share Capital of 18,633,096

14. Contact name:

Investment Operations

15. Contact telephone number:

0141 222 8158