Tern Regulatory News (TERN)

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:

Chalkwell Investments plc

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):

Required Notification that holding is more than 10%

 X

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

 Close Asset Management Limited

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:

 4 February 2011

6. Date on which issuer notified:

10 February 2011

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

 10%

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

 Ordinary Shares

B606VT5

 Below 3%

Below 3%

666,666

666,666

14.26%

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

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

 666,666

 14.26%

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

Close Asset Management Limited

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

Percentage based on shares in issue figure of 4,675,080 as at 4 February 2011.

This is the required notification that the holding is more than 10% of the shares in issue.

14. Contact name:

15. Contact telephone number:

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in share

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

Full name

(including legal form of legal entities)

Close Asset Management Limited

Contact address

(registered office for legal entities)

10 Crown Place, London EC2A 4FT

Phone number & email

020 7426 4000

Other useful information

(at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

Amanda Wheeler

Contact address

Close Brothers

10 Crown Place

London EC2A 4FT

Phone number & email

020 7426 6266

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

Compliance

C: Additional information