Notifiable Interests

RNS Number:8792P
Syndicate Asset Management PLC
11 March 2008

                 Syndicate Asset Management PLC ("the Company")

                              Notifiable Interests



Two forms TR-1, one from Equity Special Situations Limited and one from BNP
Paribas Arbitrage Snc, containing the following information have 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):

7 March 2008

6. Date on which issuer notified:

7 March 2008

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

28%

8. Notified details:

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

                                          Direct       Direct      Indirect    Direct     Indirect


GB00B0GR9291      33,967,452  33,967,452  36,650,302   36,650,302  N/A         28.08      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


36,650,302                                           28.08



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:

N/A

15. Contact telephone number:

N/A

--------------------------------------------------------------

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:

BNP Paribas Arbitrage Snc

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):

07/03/2008

6. Date on which issuer notified:

10/03/2008

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

3% holding

8. Notified details:

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

                                         Direct       Direct     Indirect     Direct     Indirect


GB00B0GR9291       7,117,686  7,117,686  3,900,000    3,900,000  0            2.9877%    0%

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


3,900,000                                            2.9877%



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:

Disclosure made by BNP Paribas London Branch

14. Contact name:

N/A

15. Contact telephone number:

N/A




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