Holding(s) in Company

TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

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

Chesnara plc

2. Reason for the notification                                  State          
                                                                Yes/No         
                                                                               
An acquisition or disposal of voting rights                      Yes           
                                                                               
An acquisition or disposal of financial instruments               No           
which may result in the acquisition of shares already                          
issued to which voting rights are attached                                     
                                                                               
An event changing the breakdown of voting rights                  No           
                                                                               
Other (please specify):                                           No           

3. Full name of person(s) subject to the notification       Morgan Stanley     
obligation (iii):                                         Securities Limited   
                                                                               
4. Full name of shareholder(s) (if different from 3.)                          
(iv):                                                                          
                                                                               
5. Date of the transaction (and date on which the              26/04/07        
threshold is crossed or reached if different) (v):                             
                                                                               
6. Date on which issuer notified:                              27/04/07        
                                                                               
7. Threshold(s) that is/are crossed or reached:                   3%           
                                                                               
8. Notified details:                                                           

A: Voting rights attached to shares

 Class/type of  Situation previous    Resulting situation after the triggering  
    shares              to                       transaction (vii)              
  if possible     the Triggering                                                
using the ISIN   transaction (vi)                                               
     CODE                                                                       
                                                                                
                 Number    Number    Number  Number of voting     % of voting   
                   of        of        of       rights (ix)         rights      
                 Shares    Voting    shares                                     
                           Rights                                               
                           (viii)                                               
                                                                                
                                     Direct   Direct  Indirect  Direct  Indirect
                                               (x)      (xi)                    
                                                                                
 GB00B00FPT80   3,242,751 3,242,751 Below 3% Below 3%          Below 3%         
                                                                                

B: Financial Instruments

Resulting situation after the triggering transaction (xii)

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

Total (A+B)                                                                    
                                                                               
Number of voting rights                 % of voting rights                     
                                                                               
Below 3%                                Below 3%                               

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

N/A

Proxy Voting:


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      N/A              
rights:                                                                        

13. Additional information:                                                    
                                                                               
14. Contact name:                                             Gemma Ozbek      
                                                                               
15. Contact telephone number:                                 020 7677 2449