Holding(s) in Company

RNS Number : 6997T

Great Portland Estates PLC

10 June 2009

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 attached:

Great Portland Estates plc

2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights		No
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached		No
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments		Yes
An event changing the breakdown of voting rights		No
Other (please specify):

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

(1) VII Trade International Limited
(2) Westbrook Real Estate Fund VII, L.P.
(3) Westbrook Realty Management VII, L.L.C.
(4) Infinity Funding Holdings, L.L.C
(5) The Westbrook Group, L.L.C.
(6) Paul D. Kazilionis

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

N/A

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

5 June 2009

6. Date on which issuer notified:

9 June 2009

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

5 per cent.

(Note: the holding will represent 3.25% of the actual issued share capital, post-rights issue, of GBP 312,676,149 - see additional information below)

8. Notified details:
A: Voting rights attached to shares
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights		% of voting rights
			Direct	Direct	Indirect	Direct	Indirect
ISIN Code:	6,443,663	6,443,663	6,443,663	6,443,663	N/A	3.56	N/A
GB00B01FLL16

The shares are held directly by VII Trade International Limited and indirectly by each of Westbrook Real Estate Fund VII L.P., Westbrook Realty Management VII L.L.C., Infinity Funding Holdings, L.L.C., The Westbrook Group, L.L.C. and Paul D. Kazilionis.

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

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price	Expiration date	Exercise/ Conversion period	Number of voting rights instrument refers to	% of voting rights
CREST stock account credit	133 pence	19 June 2009	5-19 June 2009	3,704,340	Nominal	Delta
					2.05	N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

10,148,003

5.61%

(Note: the holding will represent 3.25% of the actual issued share capital, post-rights issue, of GBP 312,676,149 - see additional information below)

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

Paul D. Kazilionis owns and controls The Westbrook Group, L.L.C., which owns and controls Infinity Funding Holdings, L.L.C., which is the managing member of Westbrook Realty Management VII, L.L.C. Westbrook Realty Management VII L.L.C. is the general partner of Westbrook Real Estate Fund VII, L.P. which owns a majority of the shares in and controls VII Trade International Limited (the recipient of the CREST stock account credit).

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

As required by DTR 5.8.8, the percentage voting rights figure of 5.61% used in this announcement was calculated using the number of voting rights in existence at 29 June 2007, being the date of most recent disclosure made by Great Portland Estates plc in accordance with DTR 5.6.1. (181,023,034 ordinary shares). However, following completion of the rights issue which was announced on 19 May 2009, the actual number of issued voting ordinary shares in the capital of Great Portland Estates plc will be 312,676,149, in relation to which VII Trade International Limited will directly hold 3.25% of the voting rights.

14. Contact name:

Mark Donnor (1)
Kashif Z. Sheikh (2)

15. Contact telephone number:

(1) +44 (0)20 7659 9452
(2) + 212 849 8800