Notification of Major Interests in Shares

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

XCITE ENERGY (CDI)

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

An event changing the breakdown of voting rights

Other (please specify): ___________

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):

16/11/2010

6. Date on which issuer notified:

17/11/2010

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

5%

8. Notified details:

Nominee holdings

A: Voting rights attached to shares

Class/type of shares

 if possible using the ISIN CODE

Situation previous to the Triggering transaction

Resulting situation after the triggering transaction

Number of Voting Rights viii

Number of shares

Number of voting rights ix

% of voting rights

Direct x

Indirect xi

Direct

Indirect

B2942B1

7,118,383

4.64%

B: Financial Instruments

Resulting situation after the triggering transaction xii

Type of financial instrument

Expiration date xiii

Exercise/ Conversion Period/ Date xiv

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

% of voting rights

Total (A+B)

Number of voting rights

% of voting rights

7,118,383.00

4.64%

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

Pearl Group Limited

Impala Holdings Limited

Pearl Group Holdings (No.1) Ltd

Ignis Asset Management Ltd

Ignis Investment Services Ltd (indirect)

Vidacos Nominees Ltd (7,118,383.00 4.64%)

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 153,439,000

14. Contact name:

Jean Birrell

15. Contact telephone number:

0141 222 8226