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:

AXA S.A, 25 Avenue Matignon, 75008 Paris and its group of companies

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

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

25th MARCH 2007

6. Date on which issuer notified:

26th MARCH 2007

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

6%

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

                                 5,000                        5,000

                     Resulting situation after the triggering transaction

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

if possible using
the ISIN CODE
3311345
                                        Direct   Indirect       Direct        Indirect

                                          5,000                  5,000          641,509
                                                                 0.05%           6.57%

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

646,509                        6.62%

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
Sun Life Pensions
Management Ltd             5,000              0.05117%

Direct
AXA Framlington AIM
VCT                      229,110              2.34491%

Indirect
AXA Framlington
AIM VCT2                 412,399              4.22086%

Total Direct               5,000              0.05117%
Total Indirect           641,509              6.56577%
TOTAL                    646,509              6.61695%

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:
Terry Marsh

15. Contact telephone number:
020 7003 2637

PHSC plc