Notification of Major Interest in Shares

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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:		Filtrona Plc
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 notification obligation:	TIAA-CREF Investment Management, LLC Teachers Advisors, Inc.
4. Full name of shareholder(s) (if different from 3.):	See Number 3
5. Date of the transaction and date on which the threshold is crossed or reached:	16 May 2012
6. Date on which issuer notified:	18 May 2012
7. Threshold(s) that is/are crossed or reached:	Below the threshold of 5%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:
The College Retirement Equities Fund ("CREF") hereby informs you that on May 16, 2012, CREF sold 126,907 shares of Filtrona Plc, bringing its total holdings in your company to 2,911,232 shares. CREF owns these shares through one of its investment accounts, the Stock Account. It is our understanding the total voting shares outstanding of Filtrona Plc are 209,719,600 bringing CREF's ownership in your company to a 1.388% level. For your information, CREF is a U.S. based investment company, which is registered with the Securities and Exchange Commission ("SEC"). CREF has multiple investment accounts, each with separate investment objectives and policies. All assets in the accounts are beneficially owned by CREF, and all the accounts are managed by TIAA-CREF Investment Management, LLC, an SEC registered investment adviser. Additionally, affiliates of CREF own 7,541,984 shares of Filtrona Plc. These holdings are owned by the TIAA-CREF Funds ("Funds"), and the TIAA-CREF Life Funds ("Life Funds"), each of which are SEC registered investment companies. The Funds and Life Funds are managed by Teachers Advisors, Inc., an SEC registered investment adviser that is affiliated with TIAA-CREF Investment Management, LLC. These affiliated funds, aggregated with those of CREF, own a total of 10,453,216 or 4.984% of the outstanding voting shares of your company. Because Teachers Advisors, Inc. and TIAA-CREF Investment Management, LLC follow the same policies when voting these funds, we are aggregating the holdings for purposes of this letter.

Proxy Voting:
10. Name of the proxy holder:		TIAA-CREF Investment Management, LLC/ Teachers Advisors, Inc.
11. Number of voting rights proxy holder will cease to hold:		N/A
12. Date on which proxy holder will cease to hold voting rights:		N/A

13. Additional information:	None
14. Contact name:	Patricia Kendall - Filtrona plc
15. Contact telephone number:	01908 359100

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