Holding(s) in Company

For filings with the FSA include the annex  
For filings with issuer exclude the annex   

TR-1: Notifications of Major Interests in Shares                               

1. Identity of the issuer or the underlying issuer of existing                 
shares to which voting rights are attached:                                    
                                                                               
Chesnara plc                                                                   
                                                                               
2. Reason for notification                                        [Yes/No]     
                                                                               
An acquisition or disposal of voting rights                         Yes        
                                                                               
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     New Star Asset Management Limited     
notification                                                                   
obligation:                                                                    
                                                                               
4. Full name of shareholder(s) (if                                   N/A                                   
different from 3):                                                             
                                                                               
5. Date of transaction (and date on                      21 January 2009                       
which the                                                                      
threshold is crossed or reached if                                             
different):                                                                    
                                                                               
6. Date on which issuer notified:                        22 January 2009                       
                                                                               
7. Threshold(s) that is/are crossed or                          below 5%                              
reached:                                                                       

8: Notified Details                                                            
                                                                               
A: Voting rights attached to shares                                            

Class/type of  Situation previous to Resulting situation after         
shares         the triggering        the triggering transaction        
               transaction                                                
                                                                               
If possible    Number of  Number of  Number of Number of        Percentage of 
use            shares     voting     shares    voting rights    voting rights 
ISIN code                 rights                                             
                                               Direct Indirect  Direct Indirect
                                                                               
GB00B00FPT80   5,388,131  5,388,131  5,055,694        5,055,694        4.98%
                                                                               

B: Financial Instruments                                                       
                                                                               
Resulting situation after the triggering transaction                           

Type of          Expiration      Exercise/      No. of voting    Percentage of 
financial           date        conversion    rights that may be voting rights 
instrument                      period/date    acquired (if the                
                                                  instrument                   
                                                  exercised/                   
                                                  converted)                   
                                                                               

Total (A+B)                                                                    

Number of voting rights                 Percentage of voting rights            
                                                                               
5,055,694                               4.98%                                  

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

Proxy Voting:                                                                  
                                                                               
10. Name of proxy holder:           N/A                                        
                                                                               
11. Number of voting rights proxy   N/A                                        
holder will cease to hold:                                                     
                                                                               
12. Date on which proxy holder will N/A                                        
cease to hold voting rights:                                                   

13. Additional information:         N/A                                        
                                                                               
14 Contact name:                    Buz de Villiers                            
                                                                               
15. Contact telephone name:         020 7225 6145                              

For notes on how to complete form TR-1 please see the FSA website.