Holding(s) in Company

SIRIUS REAL ESTATE LIMITED
(Registered in Guernsey - Number 46442)

Registered Office:

Martello Court, Admiral Park, St Peter Port, Guernsey, GY1 3HB
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]

For Immediate Release

SIRIUS REAL ESTATE LIMITED

(a Company incorporated in Guernsey)

TR-1 NOTIFICATION OF MAJOR INTEREST IN SHARES

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

SIRIUS REAL ESTATE LIMITED

2.        Reason for the Notification                 State YES or NO          
                                                                               
          An acquisition or disposal of voting        YES                      
          rights:                                                              
                                                                               
          An acquisition or disposal of financial     NO                       
          instruments which may result in the                                  
          acquisition of shares already issued to                              
          which voting rights are attached:                                    
                                                                               
          An event changing the breakdown of voting   NO                       
          rights:                                                              
                                                                               
          Other (please specify):                     NO                       
                                                                               

3.        Full name of person(s) subject to the       Funds under the          
          notification obligation:                    discretionary management 
                                                      of Laxey Partners Ltd    
                                                                               
4.        Full name of shareholder(s) (if different   Credit Suisse Client     
          from 3 above):                              Nominees UK Ltd          
                                                                               
5.        Date of the transaction (and date on which  17 May 2011              
          the threshold is crossed or reached if                               
          different):                                                          
                                                                               
6.        Date on which issuer notified:              18 May 2011              
                                                                               
7.        Threshold(s) that is/are crossed or         Over 10%                 
          reached:                                                             
                                                                               
8.        Notified details:                           9.32% on 6 April 2010    

A: Voting Rights attached to Shares

 Class/type  Situation previous to     Resulting situation after the triggering    
of shares if    the triggering                       transaction                   
  possible        transaction                                                      
 using the                                                                         
 ISIN CODE                                                                         
                                                                                   
             Number of  Number of  Number of   Number of Voting      % of Voting   
               Shares     Voting     Shares         Rights             Rights      
                          Rights                                                   
                                                                                   
                                   Direct     Direct     Indirect Direct   Indirect
                                                                                   
GG00B1W3VF54 28,161,048 28,161,048 30,342,071 30,342,071 N/A      10.04%   N/A     
                                                                                   

B: Financial Instruments

Resulting situation after the triggering transaction

Type of         Expiration Date Exercise/       Number of       % of Voting    
Financial                       Conversion      Voting Rights   Rights         
Instrument                      Period/Date     that may be                    
                                                acquired if the                
                                                instrument is                  
                                                exercised/                     
                                                converted                      
                                                                               

C. Financial Instruments with similar economic effect to Qualifying Financial
Instruments

Resulting situation after the triggering transaction

Type of        Exercise Expiration  Execise/    Number of Voting % of Voting   
Financial      Price    Date                    rights           Rights        
                                    Converstion instrument                     
Instrument                          Period      refers to                      
                                                                               
                                                                 Nominal Delta 
                                                                               

TOTAL (A + B+C)                                                                
                                                                               
Number of Voting Rights                 % of Voting Rights                     
                                                                               
30,342,071                              10.04%                                 

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

PROXY VOTING

10.       Name of the proxy holder:                   N/A                      
                                                                               
11.       Number of voting rights proxy holder will   N/A                      
          cease to hold:                                                       
                                                                               
12.       Date on which proxy holder will cease to    N/A                      
          hold voting rights:                                                  
                                                                               
13.       Additional information                      N/A                      
                                                                               
14.       Contact name:                               Laxey Partners Ltd       
                                                                               
15.       Contact telephone number:                   [phone]      

ANNEX NOTIFICATION OF MAJOR INTERESTS IN SHARES

A: Identity of the person or legal entity subject to the notification
obligations

Full Name (including legal form for legal

entities):

Contact Address:

Telephone Number:

Other Useful Information (at least legal

Representative for legal persons):

B: Identity of the notifier, if applicable

Full Name:

Contact Address:

Telephone Number:

Other Useful Information (e.g. functional

relationship with the person or legal entity

subject to the notification obligation):

C: Additional Information

Enquiries:

Intertrust Fund Services (Guernsey) Limited
Company Secretary
Martello Court
Admiral Park
St Peter Port
Guernsey

Telephone: [phone]
Facsimile: 01481 211001