ECAP.L Regulatory News (ECAP)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

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

Elephant Capital 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: iii

First State Investment Management (UK) Limited

First State Investment International Limited

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

Vidacos Nominees Limited as nominee for First State Global Emerging Markets Fund, sub-fund of First State Investments ICVC

Vidacos Nominees Limited as nominee for First State Asia Pacific Fund, sub-fund of First State Investments ICVC

State Street Bank and Trust as nominee for Lloyds TSB Pension Scheme Company

Vidacos Nominees Limited as nominee for Colonial First State Wholesale Global Emerging Markets Fund

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

 08th June 2011

6. Date on which issuer notified:

09th June 2011

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

12.42%

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

GB00B14VJG46

9992500

9992500

6,210,900

6,210,900

12.42%

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

Equity Uncovered American Call

31/05/2012

Any time up to exercise date.

1,783,500

3.567%

SEDOL:B17R1N0

We sold out above as the trade date of 08/06/2011

0

0

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

6,210,900

12.42%

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

First State Investment Management (UK) Limited and First State Investment International Limited are appointed as investment manager by and entitled to exercise voting rights on behalf of the underlying funds.

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:

Ping Chen

15. Contact telephone number:

+44 131 473 2470