The following amendment has been made to the 'TR-1: Notification of major interest in shares"' announcement released on 18^th October 2012 at 17.27 under RNS No: 0476P

Previously the number of voting rights in section 8A read 10,514,974 and the number of shares direct read 10,284,974. The number of voting rights should have read 10,284,974 and the number of shares direct should read 10,514,974.

All other details remain unchanged.

The full amended text is shown below.

For filings with the FSA include the annex
For filings with issuer exclude the annex

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:		TANFIELD 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
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation:	ARGOS FUNDS - ARGONAUT
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:	18 October 2012
6. Date on which issuer notified:	18 October 2012
7. Threshold(s) that is/are crossed or reached:	8%

8. Notified details:

A: Voting rights attached to shares

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

Direct

Indirect

Direct

Indirect

5p Ordinary

10,284,974

10,514,974

8.15

GB00B4QHFM95

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date

Exercise/
Conversion Period

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

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date

Exercise/
Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

10,514,974

8.15

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:
ARGOS FUNDS - ARGONAUT - 10,514,974, 8.15%

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:	Thomas Lancksweert, Edmond de Rothschild Investment Advisors, Investment Manager of Argos Funds - Argonaut
15. Contact telephone number:	+352 24 88 23 58