Business Transfer - Update

Berkeley Berry Birch PLC
10 June 2004






For immediate release                                            10 June 2004



                      Purchase of BBNFS by BBNFP - Update



On the 5th April 2004, Berkeley Berry Birch ('BBB') announced that the FSA
intended to undertake a review of the liquidation of Berry Birch & Noble
Financial Services Limited ('BBNFS') and the purchase of the BBNFS business by
Berry Birch & Noble Financial Planning Limited.


The FSA have now formalised their approach to BBNFS and they have appointed
investigators. The FSA have informed us the appointment of investigators does
not mean that they have determined that rule breaches and / or other
contraventions have occurred. There remains no definitive timeframe for this
process, though BBB continues to work closely with the FSA.



The Directors remain confident in the outcome of the investigation.



For further information, please call:


Grandfield                                  020 7417 4170
Charles Cook / Matthew Jervois


Berkeley Berry Birch
Cliff Lockyer                              07967 680 565






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