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:

F&C Asset Management plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

√

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:

David Einhorn

4. Full name of shareholder(s) 
 (if different from 3.):

Greenlight Capital LP

Greenlight Capital Qualified LP

Greenlight Capital Offshore Partners

Greenlight Reinsurance Limited

5. Date of the transaction and date on
which the threshold is crossed or
reached:

16 December 2009

6. Date on which issuer notified:

18 December 2009

7. Threshold(s) that is/are crossed or
reached:

3%

8. Notified details:

A: Voting rights attached to shares

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares

GB0004658141

14,586,413

14,586,413

16,450,119

16,450,119

3.4%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date

Exercise/ 
Conversion Period

Number of voting
rights that may be
acquired if the
instrument is
exercised/converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date

Exercise/
Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

16,450,119

3.4%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

Greenlight Capital LP and Greenlight Capital Qualified LP are both limited partnerships. The general partner of both of those limited partnerships is Greenlight Capital LLC. David Einhorn controls Greenlight Capital LLC.

Greenlight Capital Offshore Partners' investment manger is Greenlight Capital Inc. David Einhorn controls Greenlight Capital Inc.

Greenlight Reinsurance Limited's investment manager is DME Advisors LP, a limited partnership. The general partner of DME Advisors LP is DME Advisors GP LLC. David Einhorn controls DME Advisors GP LLC.

Proxy Voting:

10. Name of the proxy holder:

N/A

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:

Marrack Tonkin

15. Contact telephone number:

020 7628 8000