TR-1: Notifications of Major Interests in Shares

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

Morgan Sindall Group plc

2: Reason for notification (yes/no)
An acquisition or disposal of voting rights
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):	Modification to the number of voting rights managed on behalf of our clients	Yes

3. Full name of person(s) subject to the notification obligation:	Standard Life Investments (Holdings) Limited (Parent Company)
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):	16/01/2017
6. Date on which issuer notified:	17/01/2017
7. Threshold(s) that is/are crossed or reached:	Standard Life Investments (Holdings) Limited - 5% Standard Life Investments Limited - 5%

8: Notified Details
A: Voting rights attached to shares
Class/type of share If possible use ISIN code		GB0008085614

Situation previous to the triggering transaction
Number of shares		Number of voting rights
2,679,262		2,679,262

Resulting situation after the triggering transaction
Number of shares	Number of voting rights		Percentage of voting rights
	Direct	Indirect	Direct	Indirect
2,048,608		2,048,608		Below 5%

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date	Exercise/ conversion period/date	No. of voting rights that may be acquired (if the instrument exercised/converted)	Percentage 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
N/A					Nominal	Delta

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

Standard Life Investments (Holdings) Limited - Below 5%

Standard Life Investments Limited - Below 5%

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

Based on total voting rights of 44,708,236

14. Contact name:

Clare Sheridan, Company Secretary

15. Contact telephone number:

020 7307 9200