TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached: ii

Brewin Dolphin

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

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):

x

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

BT Pension Scheme Trustees Limited as trustee of the BT Pension Scheme. See Section 9 for further information.

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

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

21 December 2009

6. Date on which issuer notified:

22 December 2009

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

4%

8. Notified details:

A: Voting rights attached to shares viii, ix

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 x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ord GBP 1p

11,053,804

11,053,804

0

0

11,053,804

0%

4.856%

GB0001765816

0176581

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date xiii

Exercise/ 
Conversion Period xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

Total (A+B+C)

Number of voting rights

Percentage of voting rights

11,053,804

4.856%

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

BT Pension Scheme Trustees Limited is the parent undertaking of Britel Fund Trustees Limited, which is the parent undertaking of Hermes Fund Managers Limited. Hermes Fund Managers Limited is the parent undertaking of:

1. Hermes Equity Ownership Services Limited (voting rights held in this issuer: 0.187%)

2. Hermes Investment Management Limited (voting rights held in this issuer: 0.171%)

3. Hermes Focus Asset Management Limited (voting rights held in this issuer: 4.017%)

Please see Section 13 for further information

Proxy Voting:

10. Name of the proxy holder:

See Comment in Section 13

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

See Comment in Section 13

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

See Comment in Section 13.

13. Additional information:

Hermes Equity Ownership Services Limited hold the voting rights under a standing proxy contained in agreements for the provision of voting services to various underlying clients for the purposes of DTR 5.2.1(h), which includes all the shares owned directly by BT Pension Scheme.

Hermes Investment Management Limited hold the voting rights under a standing proxy contained in investment management agreements with various underlying clients for the purposes of DTR 5.2.1(h).

Hermes Focus Asset Management Limited hold the voting rights as General Partner under a standing proxy contained in limited partnership agreements with various limited partnerships for the purposes of DTR 5.2.1(h).

All voting rights held on behalf of the above entities are aggregated for the purposes of DTR 5.2.1(e).

This disclosure is made by BT Pension Scheme Trustees Limited, which is the ultimate parent undertaking for the purposes of DTR 5.2.1(e).

14. Contact name:

Valerie Davidson/Margaret Moss

15. Contact telephone number:

020 7680 2177/020 7680 2125