Holding(s) in Company: 7 November 2008

Notification of major shareholding

Panmure Gordon & Co. plc (“the Company”) has today received notification dated 6 November 2008 from Mr Ardavan Farhad Moshiri informing the Company that, following an increase in the Company’s share capital, Northcote (IOM) Limited’s interest in the ordinary 4p shares in the Company has fallen below 9%. Mr Moshiri beneficially owns the entire issued share capital of Northcote (IOM) Limited and so has an indirect interest in 6,450,000 ordinary shares in the Company, representing 8.52% of the total voting rights attached to the issued share capital of the Company.