Holding(s) in Company

Local Shopping REIT (The) PLC
02 May 2007



                    NOTIFICATION OF MAJOR INTERESTS IN SHARES


All relevant boxes should be completed in block capital letters.

1. Name of listed company                2. Name of shareholder with a major
                                         interest

The Local Shopping REIT plc              Landsdowne Partners Ltd

3. Please state whether notification     4. Name of the registered holder(s)
indicates that it is regarding the       and, if more than one holder, the  
holding of the shareholder named in 2    number of shares held by each of them
above; in respect of a non-beneficial
interest; or in the case of an           
individual holder if it is a holding of  
that person's spouse or children under
the age of 18

N/A                                      Morstan Nominees Ltd

5. Number of     6. Percentage of issued 7. Number of        8. Percentage of
                                                             issued
shares/amount of class (any treasury     shares/amount of    class (any treasury
stock acquired   shares held by the      stock disposed      shares held by the
                 listed company                              listed company
                 should not be taken                         should not be taken
                 into account when                           into account when
                 calculating                                 calculating
                 percentage)                                 percentage)

7,500,000        7.82%                   N/A                  N/A

9. Class of security                     10. Date of         11. Date listed
                                         transaction         company informed

Ordinary Shares                          1 May 2007          1 May 2007

12 Total holding following this          13 Total percentage holding of issued
notification                             class following this notification (any
                                         treasury shares
                                         held by the listed company should not
                                         be taken
                                         into account when calculating
                                         percentage)

 7,500,000                               7.82%

14 Any additional information            15 Name of contact and telephone number
                                         for queries
                                         Bill Heaney 020 7187 4444

16 Name and signature of duly authorised officer of the listed company
responsible for making this Notification





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               TMBTR