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:                         ( X )

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):                                                   

INITIAL NOTIFICATION OF SHAREHOLDING UNDER TRANSPARENCY DIRECTIVE

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

Unicorn Asset Management Limited

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

Eaglet Investment Trust plc
Unicorn AIM VCT II Plc

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

3rd May 2007

6. Date on which issuer notified:

4th May 2007

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

16%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares       Situation previous to the Triggering transaction
if possible using the           
ISIN CODE                       
                           Number of shares       Number of voting Rights
                                  1,792,453                     1,792,453

                           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

                           1,899,453                 16.3%

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

1,899,453                     16.3%

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
                                            Voting Rights    % of Total
Eaglet Investment Trust plc                 1,050,396        9.0%
Unicorn AIM VCT II Plc                        849,057        7.3%

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:
Sam Barton

15. Contact telephone number:
020 7253 0889

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

Full name (Including legal form for legal entities):
Unicorn Asset Management Limited

Contact address (registered office for legal entities):
First Floor Office, Preacher's Court, The Charterhouse
Charterhouse Square
London EC1M 6AU

PHSC plc