Holding(s) in Company: 12 November 2008

Notification of major shareholding

Panmure Gordon & Co. plc (“the Company”) received notification on 11 November 2008 from Deutsche Bank AG informing the Company that, following a transaction on 5 November 2008, its interest in the voting rights attached to the issued share capital of the Company has fallen below 5%.

Deutsche Bank AG now has a direct interest in 3,400,430 ordinary 4p shares in the Company representing 4.49% of the total voting rights attached to the issued share capital of the Company.

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