Notifiable Interest

RNS Number:6421F
Syndicate Asset Management PLC
12 October 2007

                 Syndicate Asset Management PLC ("the Company")

                              Notifiable Interest



A form TR-1 containing the following information has been received by the
Company.

TR-1 notification of major interests in shares

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

Syndicate Asset Management PLC

2. Reason for the notification

An acquisition or disposal of voting rights

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

Equity Special Situations Limited

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

N/A

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

18 July 2007

6. Date on which issuer notified:

8 October 2007

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

26%

8. Notified details:

A: Voting rights attached to shares
Class/type of shares    Situation previous to Triggering          Resulting situation after the triggering transaction
                        transaction
if possible using ISIN                                            Notification required under DTR transitional
CODE                                                              provision 7
                        Number of Shares  Number of Voting Rights Number of     Number of voting      % of voting
                                                                  shares        rights                rights


                                                                  Direct        Direct      Indirect  Direct  Indirect


GB00B0GR9291            33,827,452        33,827,452              33,967,452    33,967,452  N/A       26.02   N/A

B: Financial Instruments
Resulting situation after the triggering transaction


Type of financial Expiration date     Exercise/           Number of voting       % of voting rights
instrument                            Conversion Period/  rights that may be
                                      Date                acquired if the
                                                          instrument is
                                                          exercised/ converted


N/A               N/A                 N/A                 N/A                    N/A

Total (A+B)
Number of voting rights                              % of voting rights


33,967,452                                           26.02



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

N/A

10. Name of the 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:

N/A

14. Contact name:

Peter Griffin

15. Contact telephone number:

01481 751000




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