AVN.L Regulatory News (AVN)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

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

Avanti Communications Group 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):

Update to Total Voting Rights figure triggered this notification

X

3. Full name of person(s) subject to thenotification obligation: iii

M&G Investment Funds 3

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

State Street Nominees Ltd A/C GMIQ

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

23 February 2012

6. Date on which issuer notified:

24 February 2012

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

See item 13

8. Notified details:

A: Voting rights attached to shares viii, ix

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 x

Direct

Direct xi

Indirect xii

Direct

Indirect

ORD GBP0.01

GB00B1VCNQ84

12,507,850

12,507,850

21,790,683

21,790,683

19.50%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

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

% of votingrights

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 xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

21,790,683

19.50%

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

Proxy Voting:

10. Name of the proxy holder:

N/A

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

N/A

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

N/A

13. Additional information:

With reference to item 3, M&G Investments Funds 3 is an Open Ended Investment Company (OEIC) and is not a Prudential group company and must be separately disclosed.

This OEIC Fund is managed by M&G Investment Management Limited (a wholly owned subsidiary of Prudential plc) and will have been previously attributed to Prudential plc solely on the basis that M&G Investment Management Ltd has direct fund management control over the shares identified in this notification.

Therefore the holding being disclosed in this notification is encompassed in the 19.50% already disclosed under The Prudential plc group of companies and is NOT in addition to it.

14. Contact name:

James Todd / Mark Thomas

M&G Investment Management Limited

15. Contact telephone number:

020 7548 2293 / 020 7548 3266