Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                                
                                                                                              
                                                                                              
                                                                                              
1. Identity of the issuer or the underlying issuer of                                         
existing shares to which voting rights are            CHEMRING GROUP PLC                      
attached:                                                                                     
                                                                                              
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         NO    
in the acquisition of shares already issued to which voting rights are attached               
                                                                                              
An acquisition or disposal of instruments with similar economic effect to               NO    
qualifying financial instruments                                                              
                                                                                              
An event changing the breakdown of voting rights                                        NO    
                                                                                              
Other (please                                                                           NO    
specify):                                                                                     
                                                                                              
3. Full name of person(s) subject to the            AEGON UK GROUP OF COMPANIES               
notification obligation:                                                                      
                                                                                              
4. Full name of shareholder(s)  (if different from                                            
3.):                                                                                          
                                                                                              
5. Date of the transaction and date on which the    1 JUNE 2010                               
threshold is crossed or reached:                                                              
                                                                                              
6. Date on which issuer notified:                   2 JUNE 2010                               
                                                                                              
7. Threshold(s) that is/are crossed or reached:     3%                                        
                                                                                              
8. Notified details:                                                                          
                                                                                              
A: Voting rights attached to shares                                                           
                                                                                              
Class/type   Situation previous to the    Resulting situation after the triggering            
of shares    triggering transaction       transaction                                         
                                                                                              
                                                                                              
             Number of     Number of      Number of   Number of voting    % of  voting        
if possible  Shares        Voting Rights  shares      rights              rights              
using the                                                                                     
ISIN CODE                                                                                     
                                          Direct      Direct     Indirect Direct   Indirect   
                                                                                              
                                                                                              
GB0001904621 1,047,399     1,047,399      1,044,417   1,044,417  19,582   2.95%    0.06%      
                                                                                              
                                                                                              
                                                                                              
B: Qualifying Financial Instruments                                                           
                                                                                              
Resulting situation after the triggering transaction                                          
                                                                                              
Type of financial       Expiration Exercise/ Conversion    Number of voting     % of voting      
instrument              date    Period                  rights that may be   rights           
                                                        acquired if the                       
                                                        instrument is                         
                                                        exercised/                            
                                                        converted.                            
                                                                                              
                                                                                              
                                                                                              
                                                                                              
                                                                                              
C: Financial Instruments with similar economic effect to Qualifying Financial                 
Instruments                                                                                   
                                                                                              
Resulting situation after the triggering transaction                                          
                                                                                              
Type of          Exercise  Expiration Exercise/        Number of voting     % of voting        
financial        price     date      Conversion       rights instrument    rights             
instrument                           period           refers to                               
                                                                                              
                                                                                              
                                                                                              
                                                                           Nominal      Delta 
                                                                                              
                                                                                              
                                                                                              
                                                                                              
                                                                                              
Total (A+B+C)                                                                                 
                                                                                              
Number of voting rights                              Percentage of voting rights              
                                                                                              
1,063,999                                            3.01%                                    
                                                                                              

 

9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable:                              
                                                                                        
                                                                                        
                                                                                        
AEGON UK GROUP OF COMPANIES - PARENT UNDERTAKING OF:                                    
                                                                                        
                                                                                        
                                                                                        
AEGON ASSET MANAGEMENT UK PLC                                                           
                                                                                        
AEGON INVESTMENT MANAGEMENT UK LTD                                                      
                                                                                        
AEGON ICVC                                                                              
                                                                                        
                                                                                        
                                                                                        
                                                                                        
                                                                                        
Proxy Voting:                                                                           
                                                                                        
10. Name of the proxy holder:                                AEGON UK GROUP OF COMPANIES
                                                                                        
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:                     AEGON UK GROUP OF COMPANIES CONSISTS OF:
                                                                                        
                                                                                        
                                                                                        
                                                AEGON ASSET MANAGEMENT UK PLC           
                                                                                        
                                                AEGON INVESTMENT MANAGEMENT UK LTD      
                                                                                        
                                                AEGON ICVC                              
                                                                                        
                                                                                        
                                                                                        
14. Contact name:                               HELEN MARSH                             
                                                                                        
15. Contact telephone number:                   01489 864482