Holding(s) in Company

+------------------------------------------------------------------------------+
|TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                               |
+------------------------------------------------------------------------------+

+----------------------------------------------+-------------------------------+
|1. Identity of the issuer or the underlying   |                               |
|issuer                                        |         Pipehawk Plc          |
|of existing shares to which voting rights are |                               |
|attached: ii                                  |                               |
+----------------------------------------------+-------------------------------+
|2 Reason for the notification (please tick the appropriate box or boxes):     |
+----------------------------------------------------------------------+-------+
|An acquisition or disposal of voting rights                           |YES    |
+----------------------------------------------------------------------+-------+
|An acquisition or disposal of qualifying financial instruments which  |       |
|may result in the acquisition of shares already issued to which voting|       |
|rights are attached                                                   |       |
+----------------------------------------------------------------------+-------+
|An acquisition or disposal of instruments with similar economic effect|       |
|to qualifying financial instruments                                   |       |
+----------------------------------------------------------------------+-------+
|An event changing the breakdown of voting rights                      |       |
+----------------------------------------------------------------------+-------+
|Other (please specify):                                               |       |
+--------------------------------------+-------------------------------+-------+
|3. Full name of person(s) subject to  |                                       |
|the                                   |         J. M. FINN & CO. LTD          |
|notification obligation: iii          |                                       |
+--------------------------------------+---------------------------------------+
|4. Full name of shareholder(s)        |        J. M. FINN NOMINEES LTD        |
|(if different from 3.):iv             |                                       |
+--------------------------------------+---------------------------------------+
|5. Date of the transaction and date on|                                       |
|which the threshold is crossed or     |           8th November 2010           |
|reached: v                            |                                       |
+--------------------------------------+---------------------------------------+
|6. Date on which issuer notified:     |           9th November 2010           |
+--------------------------------------+---------------------------------------+
|7. Threshold(s) that is/are crossed or|                  5%                   |
|reached: vi, vii                      |                                       |
+--------------------------------------+---------------------------------------+

+-------------------------------------------------------------------------------+
|8. Notified details:                                                           |
+-------------------------------------------------------------------------------+
|A: Voting rights attached to shares viii, ix                                   |
+------------+---------------------+--------------------------------------------+
|Class/type  |Situation previous   |Resulting situation after the triggering    |
|of          |to the triggering    |transaction                                 |
|shares      |transaction          |                                            |
|            +---------+-----------+---------+------------------+---------------+
|if possible |Number   |Number     |Number   |Number of voting  |% of  voting   |
|using       |of       |of         |of shares|rights            |rights x       |
|the ISIN    |  ares   |Vo ing     +---------+---------+--------+------+--------+
|CODE        |         |Rights     |Direct   |Direct xi|Indirect|Direct|Indirect|
|            |         |           |         |         |xii     |      |        |
+------------+---------+-----------+---------+---------+--------+------+--------+
|            |         |           |         |         |        |      |        |
|GBP 0.1     |         |           |         |         |        |      |        |
|ISIN:       |1,637,673| 1,637,673 |1,801,673|1,801,673|        |5.46% |        |
|GB0003010609|         |           |         |         |        |      |        |
|            |         |           |         |         |        |      |        |
|            |         |           |         |         |        |      |        |
+------------+---------+-----------+---------+---------+--------+------+--------+

+-------------------------------------------------------------------------------+
|B: Qualifying Financial Instruments                                            |
+-------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction                           |
+--------------+----------+-------------------+-------------------+-------------+
|Type of       |Expiration|Exercise/          |Number of voting   |% of voting  |
|financial     |date xiii |Conversion Period  |rights that may be |rights       |
|instrument    |          |xiv                |acquired if the    |             |
|              |          |                   |instrument is      |             |
|              |          |                   |exercised/         |             |
|              |          |                   |converted.         |             |
+--------------+----------+-------------------+-------------------+-------------+
|              |          |                   |                   |             |
+--------------+----------+-------------------+-------------------+-------------+

+-------------------------------------------------------------------------------+
|C: Financial Instruments with similar economic effect to Qualifying Financial  |
|Instruments xv, xvi                                                            |
+-------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction                           |
+-------------+--------+----------+----------+-------------------+--------------+
|Type of      |Exercise|Expiration|Exercise/ |Number of voting   |% of voting   |
|financial    |price   |date xvii |Conversion|rights instrument  |rights xix, xx|
|instrument   |        |          |period    |refers to          |              |
|             |        |          |xviii     |                   |              |
+-------------+--------+----------+----------+-------------------+-------+------+
|             |        |          |          |                   |Nominal|Delta |
|             |        |          |          |                   +-------+------+
|             |        |          |          |                   |       |      |
+-------------+--------+----------+----------+-------------------+-------+------+

+-------------------------------------------------------------------------------+
|Total (A+B+C)                                                                  |
+-----------------------------------+-------------------------------------------+
|Number of voting rights            |Percentage of voting rights                |
+-----------------------------------+-------------------------------------------+
|1,801,673                          |5.46%                                      |
+-----------------------------------+-------------------------------------------+

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

+--------------------------------------------------------------------------+
|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:            |                                            |
+-----------------------------+--------------------------------------------+
|15. Contact telephone number:|                                            |
+-----------------------------+--------------------------------------------+

 Note: Annex should only be submitted to the FSA not the issuer

 Annex: Notification of major interests in sharesxxii


+------------------------------------------------------------------------------+
|A: Identity of the persons or legal entity subject to the notification        |
|obligation                                                                    |
+---------------------------------------+--------------------------------------+
|Full name                              |                                      |
|(including legal form of legal         |J. M. FINN & CO. LTD.                 |
|entities)                              |                                      |
|                                       |                                      |
+---------------------------------------+--------------------------------------+
|Contact address                        |                                      |
|(registered office for legal entities) |  4 COLEMAN STREET, LONDON, EC2R 5TA  |
|                                       |                                      |
+---------------------------------------+--------------------------------------+
|Phone number & email                   |                                      |
|                                       |            0203 207 3325             |
+---------------------------------------+--------------------------------------+
|Other useful information               |                                      |
|(at least legal representative for     |                                      |
|legal persons)                         |                                      |
|                                       |                                      |
+---------------------------------------+--------------------------------------+

+------------------------------------------------------------------------------+
|B: Identity of the notifier, if applicable                                    |
+---------------------------------------+--------------------------------------+
|Full name                              |             MITESH PATEL             |
|                                       |                                      |
+---------------------------------------+--------------------------------------+
|Contact address                        |                                      |
|                                       |  4 COLEMAN STREET, LONDON, EC2R 5TA  |
+---------------------------------------+--------------------------------------+
|Phone number & email                   |                                      |
|                                       |0203 207 3325 [e-mail]|
|                                       |                                      |
+---------------------------------------+--------------------------------------+
|Other useful information               |                                      |
|(e.g. functional relationship with the |         COMPLIANCE EXECUTIVE         |
|person or legal entity subject to the  |                                      |
|notification obligation)               |                                      |
+---------------------------------------+--------------------------------------+

+------------------------------------------------------------------------------+
|C: Additional information                                                     |
+------------------------------------------------------------------------------+
|                                                                              |
+------------------------------------------------------------------------------+
 For notes on how to complete form TR-1 please see the FSA website.




[HUG#1460925]








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Source: Pipehawk PLC via Thomson Reuters ONE