Avation Regulatory News (AVAP)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached:

AVATION 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 thenotification obligation:

CREDIT SUISSE GROUP AG

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

CREDIT SUISSE SECURITIES (EUROPE) LTD

5. Date of the transaction and date onwhich the threshold is crossed orreached:

22/03/2011

6. Date on which issuer notified:

24/03/2011

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

5%

8. Notified details:

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

ORD

GB00B196F554

1,583,244

1,583,244

N/A

N/A

1,583,244**

N/A

4.1089%**

** CS position remains unchanged; holding percentage has changed due to new increased issued share capital of 38,532,220 shares.

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/Conversion Period

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date

Exercise/Conversion period

Number of voting rights instrument refers to

% of voting rights

Total (A+B+C)

Number of voting rights

Percentage of voting rights

1,583,244**

4.1089%**

** CS position remains unchanged; holding percentage has changed due to new increased issued share capital of 38,532,220 shares.

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

1. Credit Suisse Group AG

2. Credit Suisse AG

2.1 Credit Suisse Securities (Europe) Ltd

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

14. Contact name:

Liane Agostini/ Anthony Allen/Paul MacDonald

15. Contact telephone number:

+44 (0) 20 7888 3599 / 5416 / 8548

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Credit Suisse Group AG

Contact address

(registered office for legal entities)

Paradeplatz 8, 8070 Zurich, Switzerland

Phone number & email

See below

Other useful information

(at least legal representative for legal persons)

See below

B: Identity of the notifier, if applicable

Full name

Credit Suisse Securities (Europe) Ltd

Contact address

One Cabot Square, London E14 4QJ

Phone number & email

020 7888 5416 Anthony.Allen@credit-suisse.com

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

Anthony Allen

C: Additional information

Our ref: 1403314

For notes on how to complete form TR-1 please see the FSA website.