Filtronic Regulatory News (FTC)

TR-1: Notifications of Major Interests in Shares

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

Filtronic plc

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached.

An event changing the breakdown of voting rights

Other (please specify): ______________

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

North Atlantic Value LLP

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

1.  North Atlantic Smaller Companies Investment Trust plc

2.  North Atlantic Value LLP (as Investment Manager/Adviser to other fund management clients) 

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

21 October 2008

6. Date on which issuer notified:

22 October 2008

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

Below 11%

8. Notified Details

A: Voting rights attached to shares

Class/type of sharesIf possible use ISIN

code

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Number of shares

Number of voting rights

Percentage of voting rights

Direct

Indirect

Direct

Indirect

Ordinary GB0003362992

Sedol:

0336299

1.

2.

5,000,000

3,250,000

5,000,000

3,250,000

5,000,000

2,997,592

5,000,000

2,997,592

6.73%

4.03%

B: 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

Total (A+B)

Number of voting rights

Percentage of voting rights

7,997,592

10.76

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

N/A

Proxy Voting:

10. Name of proxy holder:

N/A

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:

North Atlantic Value LLP is the investment manager/advisor in respect of the full 10.76% holding as it is investment manager/adviser to Holder 1 as well as the other clients included in Holder 2.

14. Contact name:

Bonita Guntrip

15. Contact telephone number:

020 7747 5681