Holding(s) in Company

TR-1: notification of major interests in shares

1. Identity of the issuer or the underlying               Chesnara PLC         
issuer of existing shares to which voting rights                               
are attached:                                                                  
                                                                               
2. Reason for the notification (please tick the appropriate box or boxes)      
                                                                               
An acquisition or disposal of voting rights                     X  
                                                                               
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                   Allianz SE          
notification obligation:                                                       
                                                                               
4. Full name of shareholder(s) (if different from     Veer Palthe Voute NV     
3.):                                                                           
                                                                               
5. Date of the transaction (and date on which the          19 May 2008         
threshold is crossed or reached if different):                                 
                                                                               
6. Date on which issuer notified:                          21 May 2008         
                                                                               
7. Threshold(s) that is/are crossed or reached:                12%             
                                                                               
8. Notified details:                                                           

A: Voting rights attached to shares                                           
                                                                              
Class/type               Situation      Resulting situation after the triggering         
of shares          previous to the                                   transaction                                      
                        Triggering                                                         
if                     transaction                                                        
possible                                                                      
using the                                                                     
ISIN CODE                                                                     
                                                                              

              Number of  Number of  Number of    Number of voting     % of voting              
                 Shares     Voting     shares           rights ix          rights                   
                            Rights                                                               
                              viii     Direct   Direct x Indirect Direct Indirect        
                                           xi                                  
                                                                                  
GB00B00FPT80 14,189,867 14,189,867 13,592,995 13,592,995          12.996         

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

Total (A+B)                                                                    
                                                                               
 Number of voting rights                    % of voting rights                      
                                                                               
              13,592,995                               12.996%                 

9. Chain of controlled undertakings through which the voting rights and/or the 
financial instruments are effectively held, if applicable xv:                  
                                                                               
Allianz SE is the ultimate holding company of Veer Palthe Voute NV ("VPV"). VPV
is a direct subsidiary of Dresdner Bank Luxembourg S.A. ("DB Lux"), a direct   
subsidiary of Dresdner Bank AG ("Dresdner"). Dresdner is a direct subsidiary of
Allianz Finanzbeteiligungs GmbH ("Allianz Finanz"), which is itself a direct   
subsidiary of Allianz SE.                                                      

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:                 Andrew Beech                                 
                                                                               
15. Contact telephone number:     020 7475 6030                                



Notes

Financial Services Authority

This form is to be sent to the issuer or underlying issuer and to be filed with
the competent authority.

Either the full name of the legal entity or another method for identifying the
issuer or underlying issuer, provided it is reliable and accurate.

This should be the full name of (a) the shareholder; (b) the person acquiring,
disposing of or exercising voting rights in the cases provided for in DTR5.2.1
(b) to (h); (c) all the parties to the agreement referred to in DTR5.2.1 (a),
or (d) the direct or indirect holder of financial instruments entitled to
acquire shares already issued to which voting rights are attached, as
appropriate.

In relation to the transactions referred to in points DTR5.2.1 (b) to (h), the
following list is provided as indication of the persons who should be
mentioned:

- in the circumstances foreseen in DTR5.2.1 (b), the person that acquires the
voting rights and is entitled to exercise them under the agreement and the
natural person or legal entity who is transferring temporarily for
consideration the voting rights;

- in the circumstances foreseen in DTR 5.2.1 (c), the person holding the
collateral, provided the person or entity controls the voting rights and
declares its intention of exercising them, and person lodging the collateral
under these conditions;

- in the circumstances foreseen in DTR5.2.1(d), the person who has a life
interest in shares if that person is entitled to exercise the voting rights
attached to the shares and the person who is disposing of the voting rights
when the life interest is created;

- in the circumstances foreseen in DTR5.2.1 (e), the parent undertaking and,
provided it has a notification duty at an individual level under DTR 5.1, under
DTR5.2.1 (a) to (d) or under a combination of any of those situations, the
controlled undertaking;

- in the circumstances foreseen in DTR5.2.1 (f), the deposit taker of the
shares, if he can exercise the voting rights attached to the shares deposited
with him at his discretion, and the depositor of the shares allowing the
deposit taker to exercise the voting rights at his discretion;

- in the circumstances foreseen in DTR5.2.1 (g), the person that controls the
voting rights;

- in the circumstances foreseen in DTR5.2.1 (h), the proxy holder, if he can
exercise the voting rights at his discretion, and the shareholder who has given
his proxy to the proxy holder allowing the latter to exercise the voting rights
at his discretion.

Applicable in the cases provided for in DTR 5.2.1 (b) to (h). This should be
the full name of the shareholder or holder of financial instruments who is the
counterparty to the natural person or legal entity referred to in DTR5.2.

The date of the transaction should normally be, in the case of an on exchange
transaction, the date on which the matching of orders occurs; in the case of an
off exchange transaction, date of the entering into an agreement.

The date on which threshold is crossed should normally be the date on which the
acquisition, disposal or possibility to exercise voting rights takes effect
(see DTR 5.1.1R (3)). For passive crossings, the date when the corporate event
took effect. [DEL::DEL]

These dates will usually be the same unless the transaction is subject to a
condition beyond the control of the parties.

Please refer to the situation disclosed in the previous notification, In case
the situation previous to the triggering transaction was below 3%, please state
`below 3%'.

vii If the holding has fallen below the minimum threshold , the notifying party
should not be obliged to disclose the extent of the holding, only that the new
holding is less than 3%.

For the case provided for in DTR5.2.1(a), there should be no disclosure of
individual holdings per party to the agreement unless a party individually
crosses or reaches an Article 9 threshold. This applies upon entering into,
introducing changes to or terminating an agreement.

viii Direct and indirect

ix In case of combined holdings of shares with voting rights attached `direct
holding' and voting rights `indirect holdings', please split the voting rights
number and percentage into the direct and indirect columns-if there is no
combined holdings, please leave the relevant box blank.

X Voting rights attached to shares in respect of which the notifying party is a
direct shareholder (DTR 5.1)

xi Voting rights held by the notifying party as an indirect shareholder (DTR
5.2.1)

xii If the holding has fallen below the minimum threshold, the notifying party
should not be obliged to disclose the extent of the holding, only that the new
holding is below 3%.

xiii date of maturity / expiration of the finical instrument i.e. the date when
the right to acquire shares ends.

xiv If the financial instrument has such a period-please specify the period-
for example once every three months starting from the [date]

xv The notification should include the name(s) of the controlled undertakings
through which the voting rights are held. The notification should also include
the amount of voting rights and the percentage held by each controlled
undertaking, insofar as individually the controlled undertaking holds 3% or
more, and insofar as the notification by the parent undertaking is intended to
cover the notification obligations of the controlled undertaking.

xvi This annex is only to be filed with the competent authority.

xvii Whenever another person makes the notification on behalf of the
shareholder or the natural person/legal entity referred to in DTR5.2 and
DTR5.3.