Notification of Shareholding

21 October 2011

                                   PHSC plc                                    

                         Notification of Shareholding                          

PHSC plc (the "Company") announces that following the disaggregation exemption
notified to the FSA under the Disclosure and Transparency Rules on 17 October
2011, AXA SA and its subsidiary notifying Group entities, acting independently
from their parent and from each other, no longer have any reportable holdings
in PHSC plc on a Group aggregated basis. However, AXA Investment Managers SA
retains a holding of 641,509 ordinary shares in the Company on a Group
disaggregated basis as an independent Group subsidiary. This holding represents
6.18% of the issued ordinary share capital of PHSC plc.

For further information please contact:

PHSC plc

Stephen King 01622 717700

www.phsc.plc.uk

Northland Capital Partners Limited

Gavin Burnell / Rod Venables 020 7796 8800

Katie Shelton (Broking)