Holding in Company

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:

PHSC PLC

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

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 )

INITIAL NOTIFICATION OF SHAREHOLDING UNDER TRANSPARENCY DIRECTIVE

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

Eaglet Investment Trust PLC

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

HSBC Global Custody Nominees Ltd

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

26th MARCH 2007

6. Date on which issuer notified:

28th MARCH 2007

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

8%

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

                     Resulting situation after the triggering transaction

Class/type of shares    Number of shares      Number of voting rights

if possible using
the ISIN CODE
33113456
                                        Direct   Indirect       Direct        Indirect

                                                  943,396
                                                                                8.093%

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

943,396                                 8.093%

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

Name of the Co. / Fund  Number of shares  % of issued share capital
Direct

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:
John Truman

15. Contact telephone number:
01392 477581

A: Identity of the person or legal entity subject to the notification obligation

Full name (Including legal form for legal entities):
Eaglet Investment Trust PLC

Contact address (registered office for legal entities):
51 New North Road, Exeter, Devon, EX4 4EP

PHSC plc