Holding(s) in Company

LSL Property Services
25 January 2008

For filings with the FSA include the annex
For filings with issuer exclude the annex


TR-1: Notifications of Major Interests in Shares


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

LSL Property Services PLC


2. Reason for the notification (please state Yes/No): (   )

An acquisition or disposal of voting rights:                               (Yes)

An acquisition or disposal of financial instruments which may result 
in the acquisition of shares already issued to which voting rights are 
attached:                                                                  (No )

An event changing the breakdown of voting rights:                          (No )

Other (please specify) :                                                   (No )


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

Sheffield Asset Management, L.L.C.
 

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

Sheffield Partners, L.P.
Sheffield Institutional Partners, L.P.
Sheffield International Partners, Ltd. 
Haven Europe Partners, L.P.
The Overlook Performance Fund, Ltd.


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

January 24, 2008
 

6. Date on which issuer notified:

January 25, 2008
 

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

15% & 16%
 

8. Notified details:


 


A: Voting rights attached to shares

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

GB00B1G5HX72           14,896,394             Same

 

                     Resulting situation after the triggering transaction 
 
Class/type of shares Number of shares  Number of voting rights    % of voting rights  
if possible using                                                                 
the ISIN CODE                                                                         
                                         Direct     Indirect        Direct    Indirect  

GB00B1G5HX72         17,035,527          Same                        16.36%
 

B: Financial Instruments

Resulting situation after the triggering transaction 

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

 

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

17,035,527                    16.36%
 

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

Sheffield Asset Management, LLC exercises voting rights on behalf of:

Sheffield Partners, L.P.
Sheffield Institutional Partners, L.P.
Sheffield International Partners, Ltd. 
Haven Europe Partners, L.P.
The Overlook Performance Fund, Ltd.
 


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:


 

14. Contact name:

Amy Rosenow
 

15. Contact telephone number:

+ 1 [phone]



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