Holding(s) in Company

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            Pendragon PLC           
issuer of existing shares to which voting                                      
rights are attached: ii                                                        

2 Reason for the notification (please tick the appropriate box or boxes):      

An acquisition or disposal of voting rights                              Yes   
                                                                               
An acquisition or disposal of qualifying financial instruments which      No   
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    No   
to qualifying financial instruments                                            
                                                                               
An event changing the breakdown of voting rights                          No   
                                                                               
Other (please                                                             No   
specify):                                                                      

3. Full name of person(s) subject to         AEGON UK Group of Companies       
the notification obligation: iii                                               
                                                                               
4. Full name of shareholder(s) (if                                             
different from 3.):iv                                                          
                                                                               
5. Date of the transaction and date                  8 July 2010               
on which the threshold is crossed or                                           
reached: v                                                                     
                                                                               
6. Date on which issuer notified:                   12 July 2010               
                                                                               
7. Threshold(s) that is/are crossed                      7%                    
or reached: vi, vii                                                            

8. Notified details:
A: Voting rights attached to shares viii, ix

Class/type of  Situation previous                Resulting situation after             
shares          to the triggering                     the triggering                   
                   transaction                          transaction                    
                                                                                       
if possible     Number     Number     Number        Number of           % of voting    
using             of         of     of shares         voting             rights x      
the ISIN CODE   Shares     Voting                     rights                           
                           Rights                                                      
                                                                                       
                                      Direct   Direct xi  Indirect    Direct   Indirect
                                                             xii                       
                                                                                       
GB00B1JQBT10  46,014,265 46,014,265 39,489,693 39,489,693 4,524,572    5.95      0.68  
                                                                                       
B: Qualifying Financial Instruments                                                    
                                                                                       
Resulting situation after the triggering transaction                                   
                                                                                       
 Type of financial  Expiration      Exercise/        Number of voting     % of voting  
    instrument      date xiii   Conversion Period   rights that may be      rights     
                                       xiv           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 financ Exercise Expiration Exercise/  Number of voting    % of voting   
     ial        price   date xvii  Conversion rights instrument  rights xix, xx 
  instrument                         period       refers to                     
                                     xviii                                      
                                                                                
                                                                Nominal   Delta 
                                                                                
 Contract For    n/a       n/a        n/a            n/a                   n/a  
  Difference                                                                    

Total (A+B+C)                                                                  
                                                                               
        Number of voting rights               Percentage of voting rights      
                                                                               
              44,014,265                                 6.64%                 

9. Chain of controlled undertakings through which the voting rights and/or the 
financial instruments are effectively held, if applicable: xxi                 
                                                                               
AEGON UK Group of Companies - parent undertaking of:                           
                                                                               
AEGON Asset Management UK plc                                                  
                                                                               
AEGON Investment Management UK ltd                                             

Proxy Voting:                                                                  
                                                                               
10. Name of the proxy holder:                 AEGON UK Group of Companies      
                                                                               
11. Number of voting rights proxy                     -2,000,000               
holder will cease to hold:                                                     
                                                                               
12. Date on which proxy holder will                    08/07/10                
cease to hold voting rights:                                                   

13. Additional information:                                                    
                                                                               
14. Contact name:                                   Richard Maloney            
                                                                               
15. Contact telephone number:                        01623 725200              

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.