Playgolf (Holdings) PLC
23 April 2007



                            PLAYGOLF (HOLDINGS) PLC


               TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES


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

Playgolf (Holdings) plc


2. Reason for the notification



Other: DTR TP 7


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

Calculus Capital Limited


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

Calculus Nominees Limited (formerly MGL Nominees Limited)


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

31 July 2004


6. Date on which issuer notified:

19 April 2007


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

4%


8. Notified details:

.................



A: Voting rights attached to shares

Class/type of shares if possible using    Situation previous to the Triggering
the ISIN CODE                                       transaction (vi)
                                        Number of      Number of voting Rights
                                        shares         (viii)

GB00B01GB928                            2,700,000      2,700,000



Resulting situation after the triggering transaction (vii)

Class/type of shares if possible Number of  Number of voting     % of voting
using the ISIN CODE              shares     rights (ix)          rights

                                 Direct     Direct  Indirect     Direct Indirect
                                            (x)     (xi)

GB00B01GB928                                         2,700,000            4.66%


B: Financial Instruments

Resulting situation after the triggering transaction (xii)

Type of     Expiration Exercise/       Number of voting rights that may  % of
financial   Date       Conversion      be acquired if the instrument is  voting
instrument  (xiii)     Period/ Date    exercised/ converted.             rights
                       (xiv)




Total (A+B)
Number of voting rights                      % of voting rights

    2,700,000                                4.66%


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

CALCULUS NOMINEES LIMITED IS A WHOLLY OWNED SUBSIDIARY OF CALCULUS CAPITAL
LIMITED. SEE ALSO NOTE 13 BELOW.


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:

THE VOTING RIGHTS ARE ATTACHED TO SHARES HELD IN ENTERPRISE INVESTMENT SCHEME
FUNDS MANAGED BY CALCULUS CAPITAL LIMITED.


14. Contact name:

Matt McParland


15. Contact telephone number:

020 7518 8054


Annex to Notification Of Major Interests In Shares (xvi)


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


Full name (including legal form for legal entities):

.................


Contact address (registered office for legal entities):

.................


Phone number:

.................


Other useful information (at least legal representative for legal persons):

.................


B: Identity of the notifier, if applicable (xvii)


Full name:

.................


Contact address:

.................


Phone number:

.................


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

.................


C: Additional information :

.................







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