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JPMorgan Progressive (PMSF)


Tuesday 25 March, 2008

JPMorgan Progressive

Holding(s) in Company

JPMorgan Progressive Multi-Strategy
25 March 2008

                JPMORGAN PROGRESSIVE MULTI-STRATEGY FUND LIMITED                                        
                    (Registered in Guernsey - Number 46407)                                        
                               Registered Office:                                        
               REGENCY COURT, GLATEGNY ESPLANADE, ST. PETER PORT,                                        
                      GUERNSEY, GY1 3NQ, CHANNEL ISLANDS.
                          TELEPHONE:  + 44 1481 720321                                        
                          FACSIMILE:  + 44 1481 716117                                        
                            e-mail:  [email protected]

Immediate Announcement                                             25 March 2008

JPMorgan Progressive Multi-Strategy Fund Limited was notified of the
following transaction in its share capital.


1.  Identity of the issuer or the underlying      JP Morgan Progressive Multi Redeemable 
issuer of existing shares to which voting rights  PTG NPV (SEDOL B1RZDH2)
are attached:

2.  Reason for notification (yes/no)

An acquisition or disposal of voting rights      No

An acquisition or disposal of financial instruments which may result in the acquisition of
shares already issued to which voting rights are 
attached                                         No

An event changing the breakdown of voting rights No

Other (please specify):                          Yes - Stock Transferred into Management

3.  Full name of person(s) subject to            Cazenove Capital Management Limited
notification obligation:

4.  Full name of shareholder(s) (if different    N/A
from 3)

5.  Date of transaction (and date on which the   19/03/08
threshold is crossed or reached if different):

6.  Date on which issuer notified:               25/03/08

7.  Threshold(s) that is/are crossed or reached: 16%

8.  Notified Details                             N/A

A: Voting rights attached to shares

Class/    Situation previous to the Resulting situation after the triggering transaction
type of   triggering transaction
Shares if
possible  Number of    Number of    Number of    Number of voting rights      Percentage of voting
use ISIN  Shares       voting       shares                                    rights
Code                   rights
                                                 Direct       Indirect        Direct      Indirect

B1RZDH2   3,713,000    3,713,000    4,207,723    4,207,723    0               16.79%            0

B:  Financial Instruments

Resulting situation after the triggering transaction
Type of          Expiration date      Exercise/         No. of voting rights that    Percentage of
financial                             conversion period may be acquired (if the      voting rights
instrument                            /date             instrument exercised/

N/A              N/A                  N/A               N/A                          N/A

Total (A+B)

Number of voting rights                          Percentage of voting rights

4,207,723                                        16.79%

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

Proxy Voting:

10.  Name of proxy holder:                       N/A

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

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

13.  Additional information                      N/A

14.  Contact name:                               N/A

15.  Contact telephone number:                   N/A

Annex Notification of Major Interest in Shares

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

Full Name                                        Cazenove Capital Management Limited
Contact Address                                  12 Moorgate, London EC2R 6DA
Phone Number                                     0207 155 5013
Other useful information                         Niraj Shah

All Enquiries:

The Company Secretary
Butterfield Fund Services (Guernsey) Limited
PO Box 211
Regency Court
Glategny Esplanade
St Peter Port

Tel: 01481 720321
Fax: 01481 716117

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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