LSAI.L Regulatory News (LSAI)

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

Longships Plc Ord GBP .01

2 Reason for the notification (please tick the appropriate box or boxes):

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):

Passive Crossing of 5% threshold

X

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

Smith and Williamson Holdings Limited

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

Detailed as per section 9

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

02.09.2011

6. Date on which issuer notified:

05.09.2010

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

5%

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

B2PKZ58

1,523,666

1,523,666

766,666

3.32%

GB00B2PKZ581

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

n/a

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

n/a

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

766,666

3.32%

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

Smith and Williamson Nominees Limited, a subsidiary of Smith and Williamson Investment Management Limited, subsidiary of Smith and Williamson Holdings Limited -766,666

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:

14. Contact name:

Mrs Claire Croad, Compliance Manager, Smith and Williamson Investment Management Limited

Nominated Adviser

Westhouse Securities Limited

Richard Baty / Petre Norton

15. Contact telephone number:

Mrs Claire Croad - 0207 131 4608

Nominated Adviser - 020 601 6100