Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

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

Vallares Plc

2. Reason for the notification:

Admission of ordinary shares onto the London Stock Exchange

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

Lloyds Banking Group plc

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

See section 9

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

22 June 2011

6. Date on which issuer notified:

23 June 2011

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

Indirect holding increased above 5%

8. Notified details:

A: Voting rights attached to shares

Resulting situation after the triggering transaction

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Total (A+B+C)

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

7,766,709 Shares (5.836%) are under the control of Scottish Widows Investment Partnership Ltd, a wholly owned subsidiary of Scottish Widows Investment Partnership Group Ltd, a wholly owned subsidiary of Scottish Widows Group Ltd, a wholly owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc.

Proxy Voting:

10. Name of the 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:

Notification using the total voting rights figure of 133,090,002

14. Contact name:

Matthew Wilson

15. Contact telephone number:

0113 235 7729