TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES1. Identity of the issuer or the underlying issuerof existing shares to which voting rights are PENDRAGON PLCattached:ii2. Reason for the notification (please tick the appropriate box or boxes):An acquisition or disposal of voting rights XAn acquisition or disposal of qualifying financial instruments which may resultin the acquisition of shares already issued to which voting rights are attachedAn acquisition or disposal of instruments with similar economic effect toqualifying financial instrumentsAn event changing the breakdown of voting rightsOther (please specify):3. Full name of person(s) subject to the ODEY ASSET MANAGEMENT LLPnotification obligation:iii4. Full name of shareholder(s) (if different from 3.):iv5. Date of the transaction and date onwhich the threshold is crossed or 02 APRIL 2014reached: v6. Date on which issuer notified: 03 APRIL 20147. Threshold(s) that is/are crossed or 20%reached: vi, vii8. Notified details:A: Voting rights attached to shares viii, ixClass/type of Situation previous Resulting situation after the triggeringshares to the triggering transaction transactionif possible Number Number Number Number of voting % of votingusing of of of shares rights rights xthe ISIN CODE Shares Voting Rights Direct Direct xi Indirect Direct Indirect xiiOrdinary Share 270,771,315 270,771,315 269,871,315 269,871,315 18.54%(GB00B1JQBT10)B: Qualifying Financial InstrumentsResulting situation after the triggering transactionType of financial Expiration Exercise/ Number of voting % of votinginstrument date xiii Conversion Period xiv rights that may be rights acquired if the instrument is exercised/ converted.C: Financial Instruments with similar economic effect to Qualifying FinancialInstruments xv, xviResulting situation after the triggering transactionType of Exercise Expiration Exercise/ Number of voting % of votingfinancial price date xvii Conversion rights instrument rights xix, xxinstrument period xviii refers toContract for Nominal DeltaDifference (CFD) 19,172,413 1.32%Total (A+B+C)Number of voting rights Percentage of voting rightsOrdinary Shares + CFD 19.86%9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxiOdey European Inc. holding is 7.29%. Odey Allegra International Fund holding is6.13%. All other fund holdings are less than 3%.Proxy Voting:10. Name of the proxy holder:11. Number of voting rights proxy holder will ceaseto hold:12. Date on which proxy holder will cease to holdvoting rights:13. Additional information:14. Contact name: Richard Maloney15. Contact telephone number: 01623 725 119