Begbies Regulatory News (BEG)

TR-1: Notifications of Major Interests in Shares

Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Begbies Traynor Group PLC

2: Reason for notification (yes/no)

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):

Correction of Notification issued on 2 December 2010

x

3. Full name of person(s) subject to the notification

obligation:

 Heronbridge Investment Management LLP

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

5. Date of the transaction (and date on which the threshold

is crossed or reached):

1 December 2010

6. Date on which issuer notified:

6 December 2010

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

4%

8: Notified Details

A: Voting rights attached to shares

Class/type of share If possible use ISIN code

GB00B0305S97

Situation previous to the triggering transaction

Number of shares

Number of voting rights

3,587,477

3,587,477

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Percentage ofvoting rights

Direct

Indirect

Direct

Indirect

3,471,662

3,471,662

0

3.88

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date

No. of voting rights that may be acquired(if the instrument exercised/converted)

Percentage of voting rights

N/A

N/A

N/A

N/A

N/A

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

Resulting situation after the triggering transaction

Type of financialinstrument

Exerciseprice

Expirationdate

Exercise/Conversionperiod

Number of votingrights instrumentrefers to

% of voting rights

 N/A

 N/A

 N/A

 N/A

 N/A

Nominal

Delta

 N/A

 N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

3,471,662

3.88%

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

N/A

Proxy Voting:

10. Name of the proxy holder:

 Heronbridge Investment Management LLP

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:

This notification replaces the notifications issued on 2 December 2010. As a 1 December 2010 the number of share where Heronbridge Investment Management LLP ("Heronbridge") has voting control totals 3,471,662 (3.88% of voting rights) and not 3,587,477 (4.01% of votng rights) as previously reported.

Heronbridge acts as investment manager for a number of Clients. In acting for our Clients, Heronbridge is given discretion over their investments and is empowered to vote on their behalf. However, we do not act as our Clients' custodian and therefore shares are not held in our name but in the name of each Client's custodian bank or institution.

14. Contact name:

Gordon Westwood / Marissa Smith

15. Contact telephone number:

01225 328300

Annex: Notification of major interests in shares

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

Full name

(including legal form of legal entities)

Heronbridge Investment Management LLP

Contact address

(registered office for legal entities)

1 Queen Street, Bath, BA1 1HE

Phone number & email

01225 328300

Other useful information

(at least legal respresentative for legal persons)

Attn: Gordon Westwood / Marissa Smith

B: Identity of notifier, if applicable

Full name

Heronbridge Investment Management LLP

Contact address

1 Queen Street, Bath, BA1 1HE

Phone number & email

01225 328300

Other useful information

(eg. Functional relationship with person or legal entity subject to the notificationtion obligation)

Attn: Gordon Westwood / Marissa Smith

C: Additional information