Holding(s) in Company: 13 November 2008

Notification of major shareholding

Panmure Gordon & Co. plc (“the Company”) has today received notification dated 12 November 2008 from Mr Ardavan Farhad Moshiri informing the Company that, following a transaction on 12 November 2008, Northcote (IOM) Limited’s interest in the ordinary 4p shares in the Company has increased above 9%. Mr Moshiri beneficially owns the entire issued share capital of Northcote (IOM) Limited and so has an indirect interest in 7,250,000 ordinary shares in the Company, representing 9.58% of the total voting rights attached to the issued share capital of the Company.