Notification of Major Interests in Shares

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

ILX Group Plc

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 event changing the breakdown of voting rights

Other (please specify):___________________________________________

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

ViCTory Venture Capital Trust

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

Pershings Securities Ltd

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

08 January 2010

6. Date on which issuer notified:

29 January 2010

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

Over 4%

8. Notified details:

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

Number of shares

Number of voting rights

% of voting rights

Direct

Indirect

Direct

Indirect

Ordinary Shares

GB0033422824

591,600

991,600

4.208%

of class

B: Financial Instruments

Resulting situation after the triggering transaction

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

Total (A+B)

Number of voting rights

% of voting rights

991,600

4.208% of class

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

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:

14. Contact name:

Kate Beusmans

15. Contact telephone number:

(01392) 477595

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

Full name (including legal form for legal entities)

ViCTory Venture Capital Trust

Contact address (registered office for legal entities)

100 Wood Street,

London,

EC2V 7AN

Phone number

(01392) 477595

Other useful information (at least legal representative for legal persons)

Contact name; Kate Beusmans

B: Identity of the notifier, if applicable

Full name

Contact address

Phone number

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

C: Additional information