Notification of Major Interest in Shares

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

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TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)
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1. Identity of the issuer or the underlying issuer                                                          AVATION PLC
   of existing shares to which voting rights are                                                           GB00B196F554
   attached: (ii)
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2. Reason for the notification (please tick the appropriate box or boxes):
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An acquisition or disposal of voting rights                                                                         n/a
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An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares        n/a
already issued to which voting rights are attached
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An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments          n/a
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An event changing the breakdown of voting rights                                                                    n/a
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Other (please specify):    Increase in the total number of ordinary shares                                          Yes
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3. Full name of person(s) subject to the                                                            UBS Investment Bank
   notification obligation:(iii)
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4. Full name of shareholder(s)                                                                     UBS AG London Branch
   (if different from 3.):(iv)
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5. Date of the transaction and date on                                                                  20 January 2012
   which the threshold is crossed or
   reached: (v)
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6. Date on which issuer notified:                                                                       24 January 2012
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7. Threshold(s) that is/are crossed or                                                       Below Notifiable Threshold
reached: (vi), (vii)
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8. Notified details:
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A: Voting rights attached to shares (viii), (ix)
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Class/type of              Situation previous               Resulting situation after the triggering transaction
shares                     to the triggering
                           transaction
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if possible using          Number        Number         Number       Number of voting rights      % of voting rights(x)
the ISIN CODE              of            of             of shares                               
                           Shares        Voting         ---------------------------------------------------------------
                                         Rights         Direct       Direct (xi) Indirect (xii)   Direct     Indirect
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Ord GBP Shares ISIN:       2,036,756     2,036,756      Below        Below       Below            Below      Below
GB00B196F554                                            Notifiable   Notifiable  Notifiable       Notifiable Notifiable
                                                        Threshold    Threshold   Threshold        Threshold  Threshold

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B: Qualifying Financial Instruments
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Resulting situation after the triggering transaction
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Type of financial                       Expiration     Exercise/                  Number of voting         % of voting
instrument                              date (xiii)    Conversion Period (xiv)    rights that may be            rights
                                                                                  acquired if the
                                                                                  instrument is
                                                                                  exercised/ converted.
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-                                       -              -                          -                        -
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C: Financial Instruments with similar economic effect to Qualifying Financial Instruments (xv), (xvi)
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Resulting situation after the triggering transaction
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Type of financial             Exercise    Expiration   Exercise/      Number of voting rights  % of voting rights (xix)
instrument                    price       date (xvii)  Conversion     instrument refers to            
                                                       period (xviii)
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-                             -           -            -              -                        Nominal       Delta
                                                                                               ------------------------
                                                                                               -             -
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Total (A+B+C)
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Number of voting rights                                                 Percentage of voting rights
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Below Notifiable Threshold                                              Below Notifiable Threshold
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9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: (xxi)

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Proxy Voting:
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10. Name of the proxy holder:
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11. Number of voting rights proxy holder will cease to hold: 
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12. Date on which proxy holder will cease to hold voting rights:
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13. Additional information:
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14. Contact name:                                             Nemanja Pantic/Konstantina Georgaki
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15. Contact telephone number:                                 [phone]
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Avation plc