TR1 - Notification of Major Interest in Shares

For filings with the FSA include the annex For filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are PHSC Plc attached:ii 2 Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify): Change of Investment Manager X 3. Full name of person(s) subject to the Downing LLP notification obligation:iii Downing Income VCT 4 Plc 4. Full name of shareholder(s) (if different from 3.):iv Downing Income VCT Plc 5. Date of the transaction and date on which the threshold is crossed or reached: v 6. Date on which issuer notified: 07/03/2012 7. Threshold(s) that is/are crossed or reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix Class/ Situation previous Resulting situation after the triggering transaction type of to the triggering shares transaction if Number Number Number Number of voting % of voting rights possible of of of shares rights x using Shares Voting the ISIN Rights CODE Indirect Direct Direct xi xii Direct Indirect 641,499 641,499 641,499 641,499 Ordinary B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of Expiration Exercise/ Number of voting % of voting financial date xiii Conversion Period xiv rights that may be rights instrument acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi Resulting situation after the triggering transaction Type of Exercise Expiration Exercise/ Number of voting rights % of voting rights financial price date xvii Conversion instrument refers to xix, xx instrument period xviii Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 641,499 6.2% 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi 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: Grant Whitehouse, Company Secretary 15. Contact telephone number: 0207 416 7780 Note: Annex should only be submitted to the FSA not the issuer Annex: Notification of major interests in sharesxxii A: Identity of the persons or legal entity subject to the notification obligation Full name (including legal form of legal entities) Contact address (registered office for legal entities) Phone number & email Other useful information (at least legal representative for legal persons) B: Identity of the notifier, if applicable Full name Contact address Phone number & email Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation) C: Additional information For notes on how to complete form TR-1 please see the FSA website.

Companies

PHSC (PHSC)
UK 100