Holding(s) in Company

For filings with the FCA 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 issuer                     TwentyFour Income
of existing shares to which voting rights are                               Fund Limited
attached:ii                                                                             
                                                                                        
2. Reason for the notification (please tick the appropriate box or boxes):               
                                                                                        
An acquisition or disposal of voting rights                                            X
                                                                                        
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 to               
qualifying financial instruments                                                        
                                                                                        
An event changing the breakdown of voting rights                                        
                                                                                        
Other (please specify):                                                                 
      
                                                                                  
3. Full name of person(s) subject to the                            Baillie Gifford & Co
notification obligation:iii                                                             
                                                                                        
4. Full name of shareholder(s)                                                          
 (if different from 3.):iv                                                              
                                                                                        
5. Date of the transaction and date on                                                  
which the threshold is crossed or                                          26 March 2015
reached: v                                                                              
                                                                                        
6. Date on which issuer notified:                                          27 March 2015
                                                                                        
7. Threshold(s) that is/are crossed or                                                5%
reached: vi, vii                                                                        
                                                                                        

8. Notified details:                                                                          
                                                                                              
A: Voting rights attached to shares viii, ix                                                  
                                                                                              
Class/type   Situation previous          Resulting situation after the triggering transaction 
of           to the triggering                                                                
shares       transaction                                                                      
                                                                                              
             Number         Number       Number   Number of voting          % of  voting      
if possible  of             of           of       rights                    rights x          
using        Shares         Voting       shares                                               
the ISIN                    Rights                                                            
CODE                                     Direct   Direct xi      Indirect   Direct Indirect   
                                                                 xii                          
Ordinary                                                                                      
Share                                                                                         
             12000000       12000000     17090000                17090000          5.998%     
GG00B90J5Z95                                                                                  
                                                                                              
                                                                                              
                                                                                              
B: Qualifying Financial Instruments                                                           
                                                                                              
Resulting situation after the triggering transaction                                          
                                                                                              
Type of        Expiration     Exercise/            Number of voting             % of voting   
financial      date xiii      Conversion Period    rights that may be           rights        
instrument                    xiv                  acquired if the                            
                                                   instrument is                              
                                                   exercised/ converted.                      
N/A                                                                                           
                                                                                              
                                                                                              
                                                                                              
C: Financial Instruments with similar economic effect to Qualifying Financial                 
Instruments xv, xvi                                                                           
                                                                                              
Resulting situation after the triggering transaction                                          
                                                                                              
Type of       Exercise      Expiration Exercise/  Number of voting rights     % of voting     
financial     price         date xvii  Conversion instrument refers to        rights xix, xx  
instrument                             period                                                 
                                       xviii                                                  
                                                                              Nominal Delta     
N/A                                                                                           
                                                                                              
                                                                                              
                                                                                              
Total (A+B+C)                                                                                 
                                                                                              
Number of voting rights                         Percentage of voting rights                   
                                                                                              
17090000                                        5.998%                                        
                                                                                              



9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable: xxi                          
                                                                                        
In the narrative below, the figures in [ ] indicate the amount of voting rights         
and the percentage held by each controlled undertaking where relevant.                  
                                                                                        
Baillie Gifford & Co, a discretionary investment manager, is the parent                 
undertaking of an investment management group.                                          
                                                                                        
Its wholly-owned subsidiary undertaking Baillie Gifford & Co Limited                    
[17,090,000; 5.998%] is an OEIC Authorised Corporate Director and Unit Trust            
Manager which has delegated its discretionary investment management role to             
Baillie Gifford & Co.                                                                   
                                                                                        
                                                                                        
                                                                                        
Proxy Voting:                                                                           
                                                                                        
10. Name of the proxy holder:                                     N/A        
                                                                                        
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:                                                 Paul Salmond          
                                                                                        
15. Contact telephone number:                                     0131 275 3169