Miscellaneous high priority annnouncements

For filings with the FSA include the annex For filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) 1. Identity of the issuer or the underlying issuer AVATION PLC of existing shares to which voting rights are attached: (ii) 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 the OCEANWOOD CAPITAL MANAGEMENT LLP notification obligation: (iii) 4. Full name of shareholder(s) OCEANWOOD GLOBAL OPPORTUNITIES MASTER FUND (if different from 3.):(iv) 5. Date of the transaction and date on 22nd March 2012 which the threshold is crossed or reached: (v) 6. Date on which issuer notified: 23rd March 2012 7. Threshold(s) that is/are crossed or Above 12% Threshold reached: (vi), (vii) 8. Notified details: A: Voting rights attached to shares (viii), (ix) Class/type of Situation previous Resulting situation after the triggering transaction shares to the triggering transaction if possible using the ISIN CODE Number Number Number Number of voting % of voting rights (x) of of of shares rights Shares Voting Rights Direct Direct (xi) Indirect (xii) Direct Indirect Ord GBP Shares 4,873,463 4,873,463 5,173,463 5,173,463 12.21% ISIN: GB00B196F554 B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of financial Expiration Exercise/ Number of voting % of voting instrument date (xiii) Conversion Period (xiv) rights that may be rights acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying Financial Instruments (xv), (xvi) Resulting situation after the triggering transaction Type of financial Exercise Expiration Exercise/ Number of voting rights % of voting rights (xix), instrument price date (xvii) Conversion instrument refers to period (xviii) Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 5,173,463 12.21% 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: (xxi) 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: 14. Contact name: 15. Contact telephone number: Avation plc