Holding(s) in Company

    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 : Highland Timber PLC

2. Reason for the notification                                        State    
                                                                     Yes/No    
                                                                               
An acquisition or disposal of voting rights                            Yes     
                                                                               
An acquisition or disposal of financial instruments which may          No      
result in the                                                                  
acquisition of shares already issued to which voting rights are                
attached                                                                       
                                                                               
An event changing the breakdown of voting rights                       No      
                                                                               
Other (please specify): Purchase of shares resulting in threshold              
being crossed                                                                  

3. Full name of person(s) subject to the notification obligation   Alto Trust  
(iii):                                                             Limited as  
                                                                   trustee of  
                                                                  Gemini Trust 
                                                                       IIP     
                                                                               
4. Full name of shareholder(s) (if different from 3.) (iv):                    
                                                                               
5. Date of the transaction (and date on which the threshold is     09/11/2007  
crossed                                                                        
or reached if different) (v):                                                  
                                                                               
6. Date on which issuer notified:                                  19/11/2007  
                                                                               
7. Threshold(s) that is/are crossed or reached:                        25%     
                                                                               
8. Notified details:                                                           

A: Voting rights attached to shares

  Class/type of       Situation       Resulting situation after the triggering  
     shares          previous to                 transaction (vii)              
if possible using  the Triggering                                               
  the ISIN CODE   transaction (vi)                                              
                                                                                
                   Number   Number   Number    Number of voting    % of voting  
                     of       of       of        rights (ix)         rights     
                   Shares   Voting   shares                                     
                            Rights                                              
                            (viii)                                              
                                                                                
                                     Direct    Direct   Indirect Direct Indirect
                                                 (x)      (xi)                  
                                                                                
  Gb0000429497    2,946,000         3,098,000 3,098,000          25.06          
                                                                                

B: Financial Instruments

Resulting situation after the triggering transaction (xii)

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

Total (A+B)                                                                    
                                                                               
Number of voting rights                 % of voting rights                     
                                                                               
3,098,000                               25.06                                  

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



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:                                                  



END
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