(PDG.L) Pendragon PLC Buy/Sell

For filings with the FSA include the annex For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying PENDRAGON PLC

issuer of existing shares to which voting rights are attached: ii

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 X

to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify):

3. Full name of person(s) subject to Odey Asset Management LLP

the notification obligation: iii 4. Full name of shareholder(s) (if different from 3.):iv
5. Date of the transaction and date 19 October 2009

on which the threshold is crossed or reached: v
6. Date on which issuer notified: 20 October 2009

7. Threshold(s) that is/are crossed 12%

or reached: vi, vii

8. Notified details:

A: Voting rights attached to shares viii, ix

46,796,82946,796,829

Class/type of Situation previous Resulting situation after
shares to the triggering the triggering
transaction transaction

if possible Number Number Number Number of % of voting
using of of of shares voting rights x
the ISIN CODE Shares Voting rights
Rights
Direct Direct xi Indirect Direct Indirect
xii

Ordinary Share 46,796,829 44,698,151 6.75%

(GB00B1JQBT10)

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

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi Resulting situation after the triggering transaction
Type of financ Exercise Expiration Exercise/ Number of voting % of voting
ial price date xvii Conversion rights instrument rights xix, xx
instrument period refers to
xviii

Nominal Delta

Contract for 36,800,000 5.56%

Difference

(CFD)

Total (A+B+C)
Number of voting rights Percentage of voting rights

Orindary Shares + CFD 12.31%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi All holdings are less than 5% per fund

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: Richard Maloney

15. Contact telephone number: 01623 725200

Note: Annex should only be submitted to the FSA not the issuer Annex: Notification of major interests in sharesxxii

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

Full name (including legal form of legal entities) Contact address (registered office for legal entities) Phone number & email Other useful information (at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name Contact address Phone number & email Other useful information(e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

For notes on how to complete form TR-1 please see the FSA website.

END