Holding(s) in Company

    


nCipher Plc


TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
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1. Identity of the issuer or the underlying issuer                                                              nCipher
of existing shares to which voting rights are                                                                       plc
attached:
------------------------------------------------------------                                                    -------
2 Reason for the notification (please tick the appropriate box or boxes):
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An acquisition or disposal of voting rights                                                                           x
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An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issues to which voting rights are attached
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An event changing the breakdown of voting rights
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Other (please specify):
----------------------------------------------------------- ----------------------------------------------------      -
                                                                                                                   BNP
3. Full name of person(s) subject to the                                                                       Paribas
notification obligation:                                                                                      Arbitage
                                                                                                                    SNC
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4. Full name of shareholder(s) (if different
from 3.):
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5. Date of the transaction and date on                                                                              19
which the threshold is crossed or                                                                             September
reached:                                                                                                           2008
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                                                                                                                    24
6. Date on which issuer notified:                                                                             September
                                                                                                                   2008
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7. Threshold(s) that is/are crossed or
reached:                                                                                                             5%
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8. Notified details:
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A: Voting rights attached to shares
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Class/type of                                               Situation     Resulting situation after the triggering
shares                                                       previous      transaction
                                                            to the
if possible using                                            Triggering
the ISIN CODE                                               transaction
                                                            ------------- ---------------------------------------------
                                                            Number Number Number    Number of voting   % of voting
                                                            of     of     of shares rights              rights
                                                            Shares Voting --------- ------------------ ----------------
                                                                   Rights Direct    Direct    Indirect Direct  Indirect
------------------------------------------------------------------ ------ --------- --------- -------- ------- --------
nCipher plc
0.527 pence ordinary

GB003247546                                                 0      0      1,127,500 1,127,500          6.6694%
------------------------------------------------------------------ ------ --------- --------- -------- ------- --------


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B: Financial Instruments
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Resulting situation after the triggering transaction
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Type of financial                                           Expiration Exercise/   Number of                    % of
instrument                                                  date        Conversion  voting                       voting
                                                                        Period/    rights that                  rights
                                                                        Date        may be
                                                                                   acquired if
                                                                                    the
                                                                                   instrument
                                                                                    is
                                                                                   exercised/
                                                                                    converted.
----------------------------------------------------------- ---------- ----------- -----------                  -------

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


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Total (A+B)
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Number of voting rights                                                                              % of voting rights
---------------------------------------------------------------------------------------------------- ------------------
1,127,500                                                                                            6.6694%
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9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
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                                                                                                                      -

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Proxy Voting:
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10. Name of the proxy holder:
--------------------------------------------------------------------------------------------- -------------------------
11. Number of voting rights proxy holder will cease
to hold:
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12. Date on which proxy holder will cease to hold
voting rights:
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 13. Additional information:
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14. Contact name:                                                                                            Liz Harris
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15. Contact telephone number:                                                                        [phone]
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