Holding(s) in Company

Local Shopping REIT (The) PLC
18 November 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: ( )

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) : (X)

The reduction in the total voting rights of The Local Shopping REIT plc
following the Company's recent acquisition of ordinary shares and the transfer
of these into Treasury has resulted in the notifier's holding crossing a
notification threshold.


3. Full name of person(s) subject to the notification obligation:

John Grahame Whateley


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

Castlemore Holdings Limited
Castlemore Securities FURBS Scheme
John Grahame Whateley
Diane Whateley


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

9 November 2007


6. Date on which issuer notified:

16 November 2007


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

From 7% - 8%


8. Notified details:

A: Voting rights attached to shares

Situation previous to the Triggering transaction

Class/type of shares if possible using the ISIN CODE

Ord GBP 0.20                                 Number of      Number of voting
                                             shares         Rights
GB00B1VS7G47                                 7,660,918      7,660,918

Resulting situation after the triggering transaction

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

Ord GBP 0.20                 Direct     Direct     Indirect     Direct  Indirect

GB00B1VS7G47                 747,126    747,126    6,913,792    0.80%    7.39%


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

7,660,918                                8.19%


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


Castlemore Holdings Limited = 3.21%
Castlemore Securities FURBS Scheme = 4.18%
John Grahame Whateley = 0.80%
Diane Whateley = 0.01%

Proxy Voting:

10. Name of the proxy holder:

N/A


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

N/A


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

N/A


13. Additional information:

Notification using the revised total voting rights figure of 93,539,040


14. Contact name:

Bill Heaney, Company Secretary


15. Contact telephone number:

020 7187 4444




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