Admiral Group PLC : Holding(s) in Company

+------------------------------------------------------------------------------+
|TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)                             |
+------------------------------------------------------------------------------+

+----------------------------------------------+-------------------------------+
|1. Identity of the issuer or the underlying   |                               |
|issuer                                        |  Admiral Group PLC (ADM LN)   |
|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 |        |
|may result in the acquisition of shares already issued to which      |   No   |
|voting rights are attached                                           |        |
+---------------------------------------------------------------------+--------+
|An acquisition or disposal of instruments with similar economic      |   No   |
|effect to qualifying financial instruments                           |        |
+---------------------------------------------------------------------+--------+
|An event changing the breakdown of voting rights                     |   No   |
+---------------------------------------------------------------------+--------+
|Other (please specify):                                              |  N/A   |
+--------------------------------------+------------------------------+--------+
|3. Full name of person(s) subject to  |                                       |
|the                                   |Mackenzie Financial Corporation        |
|notification obligation:(iii)         |                                       |
+--------------------------------------+---------------------------------------+
|4. Full name of shareholder(s)        |                                       |
| (if different from 3.):(iv)          |                                       |
+--------------------------------------+---------------------------------------+
|5. Date of the transaction and date on|                                       |
|which the threshold is crossed or     |November 18, 2011                      |
|reached:(v)                           |                                       |
+--------------------------------------+---------------------------------------+
|6. Date on which issuer notified:     |November 18, 2011 (mailed)             |
+--------------------------------------+---------------------------------------+
|7. Threshold(s) that is/are crossed or|3%                                     |
|reached:(vi, vii)                     |                                       |
+--------------------------------------+---------------------------------------+



+--------------------------------------------------------------------------------+
|8. Notified details:                                                            |
+--------------------------------------------------------------------------------+
|A: Voting rights attached to shares (viii, ix)                                  |
+------------+---------------------+---------------------------------------------+
|Class/type  |Situation previous   |Resulting situation after the triggering     |
|of          |to the triggering    |transaction                                  |
|shares      |transaction          |                                             |
|            +---------+-----------+------------+----------------+---------------+
|if possible |Number   |Number     |Number      |Number of voting|% of  voting   |
|using       |of       |of         |of shares   |rights          |rights (x)     |
|the ISIN    |  ares   |Vo ing     +------------+------+---------+------+--------+
|CODE        |         |Rights     |Direct      |Direct|Indirect |Direct|Indirect|
|            |         |           |            |(xi)  |(xii)    |      |        |
+------------+---------+-----------+------------+------+---------+------+--------+
|            |         |           |            |      |         |      |        |
|            |         |           |            |      |         |      |        |
|GB00B02J6398|7,872,302|7,872,302  |            |      |8,312,702|      |3.07%   |
|            |         |           |            |      |         |      |        |
|            |         |           |            |      |         |      |        |
+------------+---------+-----------+------------+------+---------+------+--------+

+--------------------------------------------------------------------------------+
|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  |rights       |
|instrument    |          |                      |be               |             |
|              |          |                      |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 |% of voting   |
|financial    |price   |date      |Conversion   |rights instrument|rights (xix,  |
|instrument   |        |(xvii)    |period(xviii)|refers to        |xx)           |
|             |        |          |             |                 |              |
+-------------+--------+----------+-------------+-----------------+-------+------+
|             |        |          |             |                 |Nominal|Delta |
|             |        |          |             |                 +-------+------+
|             |        |          |             |                 |       |      |
+-------------+--------+----------+-------------+-----------------+-------+------+

+--------------------------------------------------------------------------------+
|Total (A+B+C)                                                                   |
+-----------------------------------+--------------------------------------------+
|Number of voting rights            |Percentage of voting rights                 |
+-----------------------------------+--------------------------------------------+
|8,312,702                          |3.07%                                       |
+-----------------------------------+--------------------------------------------+



+--------------------------------------------------------------------------+
|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:  |Mackenzie Financial Corporation             |
+-----------------------------+--------------------------------------------+
|14. Contact name:            |Tim Fitzpatrick, Senior Compliance Officer  |
+-----------------------------+--------------------------------------------+
|15. Contact telephone number:|416-922-5322                                |
+-----------------------------+--------------------------------------------+






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Source: Admiral Group PLC via Thomson Reuters ONE

[HUG#1567698]