Holding(s) in Company

Local Shopping REIT (The) PLC
03 May 2007


TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:

The Local Shopping REIT plc


2. Reason for the notification (place an X inside the appropriate bracket/s)

An acquisition or disposal of voting rights: (X)

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 the notification obligation:

Fidelity International Limited


4. Full name of shareholder(s) (if different from 3.) :

J P Morgan, Bournemouth


5. Date of the transaction (and date on which the threshold is crossed or
reached if different):

27 April 2007


6. Date on which issuer notified:

3 May 2007


7. Threshold(s) that is/are crossed or reached:

5%


8. Notified details:

A: Voting rights attached to shares

Class/type of shares if possible using     Situation previous to the Triggering
the ISIN CODE                                          transaction
                                          Number of       Number of voting
                                          shares          Rights

GB00B1VS7G47                              0               0
                                                                             
Resulting situation after the triggering transaction

Class/type of shares if possible  Number of  Number of voting    % of voting
using the ISIN CODE               shares     rights              rights

                                  Direct     Direct Indirect    Direct  Indirect

GB00B1VS7G47                                         7,000,000          7.25%

                                                  
B: Financial Instruments

Resulting situation after the triggering transaction

Type of     Expiration Exercise/     Number of voting rights that may   % of
financial   Date       Conversion    be acquired if the instrument is   voting
instrument             Period/ Date  exercised/ converted.              rights

n/a


Total (A+B)
Number of voting rights                      % of voting rights

7,000,000                                    7.25%


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

Fidelity Fund Management Limited
Fidelity Investment Services Limited
Fidelity Gestion
Fidelity Investments Advisory (Korea) Limited
Fidelity Investments Management (Hong Kong) Limited
Fidelity Pension Management
Fidelity Investments Japan
Fidelity Investments Inernational

Proxy Voting:

10. Name of the proxy holder:

Fidelity International Limited


11. Number of voting rights proxy holder will acquire to hold:

7,000,000


12. Date on which proxy holder will acquire to hold voting rights:

27 April 2007


13. Additional information:

.................


14. Contact name:

Bill Heaney, Company Secretary


15. Contact telephone number:

020 7187 4444



                      This information is provided by RNS
            The company news service from the London Stock Exchange
                 BIR