Holding(s) in Company

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.