Dairy Crest Regulatory News (DCG)

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:

Dairy Crest 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):

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

Mawer Investment Management Ltd. as Portfolio Manager for shareholders listed below.

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

Mississaugas of the New Credit First Nation Trust

Counsel International Growth Fund Manulife Diversified Investment FundManulife Global Small Cap FundManulife World Investment FundChristian & Missionary Alliance Foreign Equity Fund

l-XL Investments Ltd.Tim Forwell Family TrustFoxhill IncorporatedColdpoint Holdings Ltd.Estate of Robert OhlsonMawer Canadian Diversified Investment Fund

Mawer Global Small Cap FundMawer World Investment FundManulife World Investment Class

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

November 25, 2010

6. Date on which issuer notified:

November 26, 2010

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

3% ownership

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

GB0002502812

3,959,846

2.97%

4,032,705

3.0257%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/ConversionPeriod

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

% of votingrights

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

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

4,032,705

3.0257%

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

Mississaugas of the New Credit First Nation Trust - 8,000 shares of Dairy Credit Group PLC (DCG) or 0.0060%Counsel International Growth Fund - 226,900 shares of Dairy Crest Group PLC (DCG) or 0.1702%Manulife Diversified Investment Fund - 133,000 shares of Dairy Crest Group PLC (DCG) or 0.0998%Manulife Global Small Cap Fund - 13,700 shares of Dairy Crest Group PLC (DCG) or 0.0103%Manulife World Investment Class nd - 812,300 shares of Dairy Crest Group PLC (DCG) or 0.6095%Christian & Missionary Alliance Foreign Equity Fund - 15,500 shares of Dairy Crest Group PLC (DCG) or 0.0116%l-XL Investments Ltd. -16,670 shares of Dairy Crest Group PLC (DCG) or 0.0125%Tim Forwell Family Trust - 670 shares of Dairy Crest Group PLC (DCG) or 0.0005%Foxhill Incorporated - 3,120 shares of Dairy Crest Group PLC (DCG) or 0.0023%Coldpoint Holdings Ltd. - 7,260 shares of Dairy Crest Group PLC (DCG) or 0.0054%Estate of Robert Ohlson - 26,385 shares of Dairy Crest Group PLC (DCG) or 0.0198%Mawer Canadian Diversified Investment Fund - 58,000 shares of Dairy Crest Group PLC (DCG) or 0.0435%Mawer Global Small Cap Fund - 80,600 shares of Dairy Crest Group PLC (DCG) or 0.0605%Mawer World Investment Fund -2,000,000 shares of Dairy Crest Group PLC (DCG) or 1.5006%Manulife World Investment Class- 630,600 shares of Dairy Crest Group PLC (DCG) or 0.4731%

Proxy Voting:

10. Name of the proxy holder:

Mawer Investment Management Ltd

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:

Mawer Investment Management Ltd.

14. Contact name:

Donna J. Mack

15. Contact telephone number:

(403) 770-1270