Holding(s) in Company

TR-1: Notification of major interest in sharesi
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:ii WATCHSTONE GROUP PLC
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  X
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation:iii Deutsche Bank AG
4. Full name of shareholder(s) (if different from 3.):iv

Deutsche Bank AG, London Branch

5. Date of the transaction and date on which the threshold is crossed or reached:v 15/08/2016
6. Date on which issuer notified: 17/08/2016
7. Threshold(s) that is/are crossed or reached: vi, vii Above 5%, 6% and 7%
8. Notified details:
A: Voting rights attached to sharesviii, ix
Class/type of shares

if possible using the 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 % of voting rights x
Direct Directxi Indirectxii Direct Indirect
 GB00BYNBFN51  Below reportable threshold  Below reportable threshold  3,455,190  3,455,190  0  7.51%  0
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument Expiration date xiii Exercise/Conversion Period xiv Number of voting rights that may be acquired if the instrument is exercised/ converted. % of voting rights
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial instrument Exercise price Expiration datexvii Exercise/Conversion periodxviii Number of voting rights instrument refers to % of voting rightsxix, xx
Swaps  17-Jul-17 11,693 Nominal Delta
 0.03%  0.03%
Total (A+B+C)
Number of voting rights Percentage of voting rights
3,466,883 7.53%
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:xxi
 Deutsche Bank AG, London Branch – 7.53%
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: Stacy Otieno
15. Contact telephone number: 0207 54 76268